Martin’s Recent Stories
Politics Jun 24IMF downgrades outlook for global economy in face of virus
The IMF predicts that the global economy will shrink 4.9% this year, significantly worse than the 3% drop it had estimated in its previous report in April.
Economy Jun 16WATCH: Powell warns that long downturn would mean severe damage
Federal Reserve Chair Jerome Powell will present the semi-annual monetary policy report June 16 before the Senate Committee on Banking, Housing, and Urban Affairs.
Economy Jun 05U.S. consumers shunned borrowing in April as economy shut down
U.S. consumer borrowing plunged in April as households fretted about the disruptions caused by the coronavirus pandemic and cut back on their use of credit.
Economy Jun 01CBO projects virus impact could trim GDP by $15.7 trillion
The Congressional Budget Office says the U.S. economy could be $15.7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus.
Economy May 29COVID-19 sinks consumer spending 13.6% in April
Friday's Commerce Department figures reinforced evidence that the economy is gripped by the worst downturn in decades, with consumers unable or too anxious to spend much.
Economy May 27Report says businesses pessimistic about economy’s pace of recovery
Businesses across the country surveyed by the Federal Reserve don’t appear to share the Trump administration’s optimism about a rapid economic recovery starting this summer.
Nation May 19WATCH: Fed’s Powell says new lending programs to launch by June 1
Treasury Secretary Steve Mnuchin and Federal Reserve Chair Jerome Powell will testify Tuesday at 10 a.m. before the Senate Banking, Housing and Urban Affairs Committee.
Nation May 12U.S. government sees record monthly deficit of $737.9 billion
The sea of red ink is being created by a drop in revenue and a massive increase in spending to fund efforts to deal with the coronavirus pandemic.
Economy May 12Why prospect of deflation could pose a threat to U.S. economy
The economic paralysis caused by the coronavirus led in April to the steepest month-to-month fall in U.S. consumer prices since the 2008 financial crisis — a 0.8% drop that was driven by a plunge in gasoline prices.
Economy May 04Treasury announces record borrowing of $2.99 trillion
The Treasury Department says it will need to borrow a record $2.99 trillion during the current April-June quarter to cover the cost of various rescue efforts dealing with the coronavirus pandemic.