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New stimulus should focus more on aid for small businesses and unemployed Americans than direct payments and municipal governments, Michael Feroli, chief US economist at JPMorgan, said in a note.

Lawmakers are expected to publish language for a $908 billion relief package on Monday, revealing new details on the most promising stimulus proposal in months. Republicans and Democrats in Congress threw their support behind the measure throughout last week, teeing it up for passage before the end of the year. The bill’s framework includes funds for expanded federal unemployment benefits, the Paycheck Protection Program, and details ⇒

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