U.S. Economy

As the airlines look for government aid to deal with plummeting sales from the coronavirus pandemic, their massive share buybacks are coming under increased scrutiny.

Treasury Secretary Steven Mnuchin told FOX Business' Maria Bartiromo the White House is working on sending $1,000 checks to most adults and $500 checks to children.

The number of Americans filing applications for jobless benefits jumped to 281,000.

It's unclear how sharp a downturn would be in the U.S.

Credit Suisse raised its price target for the shares to $127 from $115.

According to an NPR/Marist poll, 18 percent of households already reported someone being laid off or having hours reduced because of the virus outbreak

People affected by the coronavirus pandemic will receive money "soon," the president said in a morning tweet.

If the administration were to take no relief action, the rate could near levels seen during the Great Depression, the Treasury secretary said.

Mester said she supported all of the actions taken by the Fed, including $700 billion in asset purchases, but that she preferred to reduce interest rates by 50 basis points, rather than 100 basis points.

Treasury Secretary Steve Mnuchin said individuals who owe a payment to the IRS can defer up to $1 million. Corporations will be allowed to defer, penalty-free, for 90 days.

The commercial paper market has been under strain in recent days as the coronavirus pandemic threatens the U.S. economy. 

The Senate’s discussions on a third round of stimulus took on new urgency as the stock market plummeted again.

Millions of Americans began their work week holed up at home Monday against the coronavirus outside their doors.

The National Bureau of Economic Research would likely classify the sharp slowdown as a recession, Goldman Sachs says.

In the U.S., there are 3,813 reported COVID-19 cases and 69 deaths.

In the past, banks have shied away from borrowing directly from the central bank, for fear that investors would perceive such a move as signs of impending trouble.

Dow Jones Industrial Average futures were lower after the Fed's emergency move.

The Fed made an emergency cut on Sunday evening, sending its benchmark federal fund rates to near zero.

The CEOs of Delta and United Airlines have both confirmed that they've spoken with government officials about potential federal aid. 

Mnuchin said he speaks regularly with Federal Reserve Chairman Jerome Powell, though he declined to provide further details about their conversations.