U.S. Economy

The chief global strategist for Morgan Stanley Investment Management says the coronavirus has caused economic history to be made.

Estimates vary drastically for how high unemployment will climb, but economists broadly agree that it will be grim.

Companies may borrow up to 2.5 times their payroll, or up to $10 million, which can be used for payroll and other expenses.

It was the first decline in payrolls since September 2010, and the steepest since March 2009.

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.

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The forecasts are far less bleak than the picture painted by the record-shattering jobless claims.

Depending on the employer’s 401(k) plan, contributions to the retirement savings account could be matched (up to a certain point of their salary) by the employer.

Bullard’s comments follow a bleak analysis by St. Louis Fed economists, which projected that unemployment could hit 32 percent in the second quarter.

The coronavirus crisis has forced businesses big and small across the country to close their doors in an attempt to mitigate the disease's spread.

According to a new report by Redfin, affordable East Coast and Midwest cities have the lowest overall economic risk in the 2020 recession that began in March as a result of the coronavirus.

The borrowing spree happened because regulators had “few, if any” tools to rein it in and because low interest rates made it easier for companies to borrow, she said.

The Paycheck Protection Program, is designed to get cash in the hands of struggling small businesses and incentivize them to keep staff on payroll.

A "sizable and aggressive policy response" could limit the impact of the recession, the economists said

Florida senator said that rather than take the necessary steps to alert the world to COVID-19, China withheld pivotal information.

Economists surveyed by Refinitiv expect the economy shed 100,000 jobs in March, the first losses in almost 10 years and bringing to end a record 113-month-long streak of payroll creation.

As of February, the industry employed more than 12 million people.

OECD economists estimated that total annual output would drop by 6 percent in the developed economies if the unprecedented containment policies implemented by governments last for three months,.

A key piece of the largest relief bill in recent memory is the $350 billion in funding for small businesses.

The bills are now coming due for big companies and millions of laid-off workers. Decisions made in the next few days will shape how coronavirus impacts the economy.