Economy

So far, Congress has passed four massive stimulus packages totaling nearly $3 trillion to blunt the economic pain from the virus outbreak.

The Treasury Department plans to borrow $2.9 trillion from April through June to cover the government's response to the outbreak of the virus.

The federal government regularly spends more than it collects, adding billions to the national debt.

Although Goldman economists initially expected unemployment to reach a high of 25 percent in June, real-time numbers suggested it actually peaked in May at about 21.5 percent.

Last year, the company suffered a $20.5 million net loss, ending the year with just $2.1 million in cash on hand

Congress created the $610 billion program to keep small businesses afloat during the coronavirus pandemic.

Businesses with up to 15,000 employees and $5 billion in revenue can apply for financing through the $600 billion Main Street Lending Program.

Kudlow said the sweetened unemployment benefits are deterring some Americans from returning to work

In his role as leader of the Richmond Fed, Barkin, 59, is responsible for the bank's monetary policy, bank supervision and regulation and payment services.

The New York Fed is the largest of the 12 district banks in terms of assets and is responsible for purchasing and selling outstanding U.S. Treasury securities. 

The event was originally scheduled for April 20 before being pushed back to Sept.14 by Boston Mayor Martin Walsh.

George is not a member of the rate-setting Federal Open Market Committee this year; she will return as an alternate member in 2021.

The Fed created the $500 billion facility to directly purchase state and local debt.

The move is intended to guarantee the forgivable loans reach traditionally underserved communities, the agencies said.

Cohn urged Congress to focus on the next stage of the nation's economic recovery.

Gross domestic product, the broadest measure of goods and services produced across the economy, fell at a seasonally adjusted annual rate of 5 percent.