President Joe Biden has declared that a major disaster exists in Alabama and California, the two States affected by severe winter storms recently.
Biden ordered Federal aid to supplement State, tribal, and local recovery efforts in the areas affected by severe winter storms, flooding, landslides, and mudslides in California beginning on December 27.
The President's action makes Federal funding available to affected individuals in the counties of Merced, Sacramento, and Santa Cruz. Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and business owners recover from the effects of the disaster. Federal funding also is available to State, tribal, and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work in the counties of Merced, Sacramento, and Santa Cruz. Also, Federal funding is available on a cost-sharing basis for hazard mitigation measures statewide.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.