Powell expects 'robust' economic recovery from coronavirus downturn
Powell said policymakers at the U.S. central bank are committed to using the full scope of their vast powers to support the economy.
Unemployment claims swell to 6.6 million as coronavirus paralyzes US economy
Economists surveyed by Refinitiv expected the number of initial claims for state unemployment benefits to hit 5.25 million.
Large-scale debt cancellation during coronavirus pandemic 'unthinkable,' ECB's Lagarde says
Former ECB chief Mario Draghi has called for corporate debt cancellations.
Fed to hold interest rates near zero until US weathers 'recent events,' minutes reveal
The central bank on Wednesday released minutes from two emergency meetings, held on March 2 and March 15.
April rent not paid by nearly a third of US apartment tenants
Only 69 percent of tenants paid any of their rent between April 1 and 5.
Biden says economic damage from coronavirus crisis could ‘eclipse’ Great Depression
The Democratic presidential frontrunner, however, said the crisis could create an opportunity for the next president to make major structural changes.
Senate Democrats propose $25K coronavirus hazard pay for essential workers
The Democrats’ proposal, the so-called Pandemic Premium Pay, would offer up to $25,000 for workers earning less than $200,000 per year
US economic output plunges by 29% as coronavirus forces widespread shutdowns
Restaurants, bars, hotels, gyms, beauty salons, entertainment venues and other businesses deemed non-essential have been ordered to close.
Mnuchin: Trump looking at how parts of US economy can be reopened
The coronavirus pandemic has forced an unprecedented shutdown of businesses throughout the country.
Pelosi says fourth coronavirus stimulus package could cost $1T
There’s growing consensus among lawmakers that they will need to act again to expand relief efforts to workers and businesses.
Small-business confidence in US economy dropped in March: NFIB
Economists look to the report for a read on domestic demand and to extrapolate hiring and wage trends in the broader economy.
Consumer expectations plunge as coronavirus drags on economy, New York Fed finds
The report was conducted between March 2 and March 31, when jurisdictions across the country directed millions to stay at home
Kudlow says US economy could 'snap back' from coronavirus crisis
Kudlow said the economy could begin to recover within a four- to eight-week period.
Coronavirus crisis shows need for wealth tax, basic income, Financial Times editorial argues
The economic lockdown, according to the Financial Times editorial board, has disproportionately impacted “already worst off” individuals
States could receive federal funding to expand unemployment benefits this week
In the final two weeks of March, nearly 10 million Americans filed for unemployment benefits.
Coronavirus has changed economic history: Morgan Stanley strategist
The chief global strategist for Morgan Stanley Investment Management says the coronavirus has caused economic history to be made.
Coronavirus stimulus package expands unemployment benefits — here's how it works
Estimates vary drastically for how high unemployment will climb, but economists broadly agree that it will be grim.
Small banks have processed $2B for small business loan relief
Companies may borrow up to 2.5 times their payroll, or up to $10 million, which can be used for payroll and other expenses.
Coronavirus pandemic battered these industries in March as US economy lost 701,000 jobs
It was the first decline in payrolls since September 2010, and the steepest since March 2009.
US employers shed 701,000 jobs in March, unemployment jumped to 4.4%, as coronavirus ravages economy
In the final two weeks of the month, 10 million Americans applied for unemployment benefits, a stunning sign of the scope of the economic crash.