Economy May 04 Federal reserve set to launch ‘Main Street’ loan program With the U.S. economy sinking into a severe recession, the Federal Reserve is set to launch a high-risk program through which it will lend money to small and medium-sized companies outside the banking industry for the first time since the…
Economy Apr 30 30 million in U.S. have sought unemployment benefits since virus hit More than 3.8 million laid-off workers applied for unemployment benefits last week as the U.S. economy slid further into a crisis that is becoming the most devastating since the 1930s.
Economy Apr 29 WATCH: Fed signals it will likely keep rates near zero for months Fed chair Jerome Powell suggested that given the depth of the U.S. economic catastrophe, with perhaps 30 million people having lost jobs in the past six weeks, it will “probably will take some time for us to get back to…
Economy Apr 23 Gig workers and self-employed keep waiting for jobless aid Economists say the layoffs could send the unemployment rate as high as 20%, which would be the worst level since the Great Depression. But there are many more filings for jobless aid to come, including millions of independent contractors, gig…
Economy Apr 23 26 million have sought unemployment benefits since virus hit More than 4.4 million laid-off workers applied for U.S. unemployment benefits last week as job cuts escalated across an economy that remains all but shut down, the government said Thursday.
Economy Apr 22 Many small businesses say loans won’t get them to rehire Some small businesses that obtained a highly-coveted government loan say they won't be able to use it to bring all their laid-off workers back, even though that is exactly what the program was designed to do.
Economy Apr 16 U.S. job losses mount as economic pain deepens worldwide The ranks of Americans thrown out of work by the coronavirus ballooned Thursday to more than 20 million in just four weeks, an unprecedented collapse fueling widening protests and propelling President Donald Trump's push to relax the nation's social distancing…
Economy Mar 23 Fed to buy as much government debt as needed to aid economy The Fed's announcement Monday removes any dollar limits from its plans to support the flow of credit through an economy that has been ravaged by the viral outbreak.
Economy Mar 20 Federal Reserve to lend additional $1 trillion a day to large banks The Federal Reserve has moved with unprecedented force and speed to pump huge amounts of cash into the financial system to ease disruptions that have escalated since the viral outbreak.
Economy Mar 18 Small businesses face devastation as damage from virus grows Across the country, in industries of every kind and size, the coronavirus outbreak has devastated small businesses.