U.S. Economy

The Treasury Department has announced five lending facilities to deploy other portions of the money, but has not invested in them yet.

While unemployment in the U.S. had dropped from a peak of 10 percent during the 2008 financial crisis to a 50-year low of 3.5 percent, economists say wage growth failed to keep pace.

Beijing is the second-largest owner of U.S. government debt, holding more than $1.1 trillion worth of treasuries.

Data for March was revised up to show homebuilding declining to a pace of 1.276 million units instead of dropping to 1.216 million units as previously reported.

Bullard was earning about $339,700 per year, on the low end of the 12 district banks.

The crisis has triggered the worst economic catastrophe in the U.S. since the Great Depression.

The only way to cauterize the unemployment blood bath Cuban said, is for the federal government to intervene as it did during the Great Depression.

Although retail stores, salons and malls are beginning to reopen in some states, about two-thirds, or 66 percent, of respondents said they're avoiding nonessential spending.

Cuban argued that the Paycheck Protection Program was a "great plan" that "didn't work."

At least 14 U.S. states are easing lockdown restrictions on Monday, including Florida, which will allow gyms and fitness centers to reopen at 50 percent capacity.

Powell appeared to push back against the possibility of a so-called "V-shaped" rebound, noting it was "unlikely" the U.S. will bounce back to pre-crisis levels by the end of the year.  

In a "60 Minutes" interview with Scott Pelley on Sunday, Federal Reserve Chairman Jerome Powell predicted the economy would "decline substantially" in the second quarter, as much as four times compared to the previous year. 

Before working for the Chicago Fed, Evans taught at the collegiate level.

Grocery stores across the U.S. have been faced with a slate of issues stemming from the outbreak.

The corporate tax rate is 21 percent - but could go as low as 10.5 percent for companies that return production to the U.S.

Despite the modest gains, personal financial prospects for the year ahead continued to decline, falling to the lowest level in nearly six years.

The Federal Reserve said Friday that its industrial production index plunged a record 11.2% in April.

Economists polled by The Wall Street Journal had expected the indicator to be at a lower level of minus 60.0.

A House bill released earlier this week faces a steep, uphill battle: Senate Republicans have decried the bill as a "liberal wish list"

In the two months since the virus paralyzed the economy, more than 33 million Americans have filed for first-time unemployment benefits.