Politics Dec 01 WATCH: Mnuchin defends shut down of Fed emergency loan programs Treasury Secretary Steven Mnuchin is defending his decision to close down a number of emergency Federal Reserve loan programs at a time when coronavirus cases are surging.
Economy Nov 30 Powell: Economic recovery ‘unlikely until people are confident’ in safety from virus In remarks released by the Fed on Monday, Powell said that the increase in new COVID-19 cases both in the United States and abroad was "concerning and could prove challenging for the next few months.
Economy Nov 19 Mnuchin rejects renewal of some Federal Reserve emergency loan programs The central bank said it "would prefer that the full suite of emergency facilities established during the coronavirus pandemic continue to serve their important role as a backstop for our still-strained and vulnerable economy.
Politics Nov 05 Federal Reserve keeps interest rate at record low The Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months.
Economy Oct 29 U.S. economy grew at 33 percent rate in third quarter, but recovery is incomplete The U.S. economy grew at a sizzling 33.1% annual rate in the July-September quarter — by far the largest quarterly gain on record — rebounding from an epic plunge in the spring, when the eruption of the coronavirus closed businesses…
Economy Oct 16 U.S. budget deficit hits all-time high of $3.1 trillion The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic cut revenues and sent spending soaring.
Economy Oct 15 IMF warns global economy could be permanently scarred The global economy's recovery from the pandemic recession is tentative and uneven and "marked by significant uncertainty" as confirmed coronavirus cases spread in many countries, global finance ministers warned Thursday.
World Oct 14 G-20 suspends poor nations’ debt payments for 6 more months The Group of 20 nations, representing the world’s biggest economies, say they have agreed to extend the suspension of debt payments by an additional six months to support the most vulnerable countries in their fight against the coronavirus pandemic.
Economy Oct 13 IMF envisions a sharp 4.4 percent drop in global growth for 2020 The International Monetary Fund foresees a steep fall in international growth this year as the global economy struggles to recover from the pandemic-induced recession, its worst collapse in nearly a century.
Economy Oct 05 Service sector grows for the 4th consecutive month The index had fallen sharply for three months starting in March as shutdowns aimed at containing the virus closed many businesses and put millions of Americans out of work. But starting in June, the index has resumed rising.