Fed’s Kaplan warns of ‘historic’ economic contraction, sees need for more stimulus
Unemployment could soar as high as 20 percent and end the year as high as 8 percent to 10 percent, the Dallas Fed president said.
Nine states will lead US coronavirus recovery, White House economists predict
Several states have started to navigate reopening from the coronavirus shutdowns.
Landlords, lenders brace for nationwide rent strike
Strikers are hoping to send a message en masse to government officials that will persuade them to cancel all rent and mortgage payments for the duration of the pandemic.
May rent strike planned as coronavirus cripples US economy
The crisis has walloped Americans financially, leaving 30 million workers out of a job.
Small businesses received less coronavirus aid in states dominated by big banks: Study
A significantly larger number of federal relief loans from the Paycheck Protection Program reached small businesses in states with a bigger percentage of local banks
Half of working-age Americans might not have a paycheck in May as layoffs surge
In the six weeks since widespread shutdowns began, more than 30 million Americans have lost their job
Fed expands Main Street lending program to include bigger businesses
The U.S. central bank initially launched the lending program to help get money to small- and medium-sized businesses impacted by the coronavirus pandemic
Consumer spending plummets 7.5% in March, biggest drop on record
Consumer spending has been a key driver of the U.S. economy in recent years
Over 3.8 million Americans applied for unemployment last week as economic pain from coronavirus deepens
Economists expected 3.5 million Americans to apply for unemployment benefits last week.
Fed's Powell says US economy 'may need more support' for recovery to be 'robust'
Policymakers vowed to use their "tools and act as appropriate to support the economy"
Fed pledges to keep interest rates near zero until coronavirus-battered economy recovers
The central bank has used its full firepower to insulate the economy from the coronavirus pandemic.
Coronavirus pandemic hit half of Americans' finances, poll finds
50 percent of Americans say they or someone in their household has lost a job
Kudlow predicts 'big snapback' from coronavirus pandemic for US economy in second half of year
The liquidity and cash phase of relief, Kudlow said, is coming to an end.
Second round of small business loan money could evaporate by end of week
There’s doubt about whether the second wave of funding will be enough to cover demand.
US economy shrank by 4.8 percent in first quarter, as coronavirus ends record-long expansion
Economists surveyed by Refinitiv expected the economy to decline by 4 percent.
Some billionaire fortunes grew despite coronavirus pandemic
The crisis has brought the global economy to a near standstill.
Trump predicts ‘incredibly strong’ fourth-quarter growth as US faces first downturn in years
Trump's comments one day before the nation's first-quarter GDP estimate is released.
Business closures surge by 200% as coronavirus hammers US economy, study finds
During the second and third weeks of March, when the majority of states implemented strict stay-at-home measures and directed businesses deemed non-essential to shutter to mitigate the spread of the virus, the closure rate of businesses skyrocketed.
Coronavirus relief often pays workers more than work
It is possible that workers could ask their bosses to leave them on furlough so they can collect the larger payments while avoiding potential health risks of returning to crowded workplaces.
Small business loan program still hindered by glitches in second day of relaunch
"E-Tran,” the SBA’s electronic loan guarantee system, has been beset by technical errors and access issues since the second wave of funding for the low-interest loan program launched.