Jun 10 WATCH: Fed ‘not thinking about raising rates,’ Powell says By Christopher Rugaber, Associated Press Chairman Jerome Powell faces a challenging task Wednesday: He'll need to make a convincing case that the Federal Reserve is committed to using all its tools to bolster an economy gripped by recession — without making any policy changes to… Continue reading
Jun 09 U.S. employers laid off 7.7 million workers in April By Josh Boak, Associated Press U.S. employers laid-off 7.7 million workers in April _ a sign of how deep the economic hole is as offices, restaurants, stores and schools are reopening after being shuttered because of the coronavirus. Continue reading
Jun 08 WATCH: White House press secretary holds news briefing By Justin Stabley and Associated Press White House Press Secretary Kayleigh McEnany is expected to hold a press briefing Monday. Continue reading
Jun 03 U.S. job losses in May could raise 3-month total to 30 million By Christopher Rugaber, Associated Press The epic damage to America's job market from the viral outbreak will come into sharper focus Friday when the government releases the May employment report. Continue reading
Jun 01 CBO projects virus impact could trim GDP by $15.7 trillion By Martin Crutsinger, Associated Press 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. Continue reading
May 28 Airlines increase job cuts as pandemic crushes air travel By David Koenig, Danica Kirka, Associated Press From Britain's EasyJet to American and Delta in the U.S., airlines are cutting even more jobs to cope with a crushing drop in air travel caused by the coronavirus. Continue reading
May 27 EU proposes 750 billion-euro coronavirus recovery fund By Lorne Cook, Associated Press The European Union has proposed a recovery fund worth 750 billion euros, or $825 billion, to help countries weather a painful recession triggered by the coronavirus. Continue reading
May 14 3 million more U.S. layoffs intensify fears of lasting damage By Christopher Rugaber, Associated Press Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses reopen under certain restrictions. Continue reading
Apr 30 Wall Street pulls back as dismal economic data piles higher By Stan Choe, Associated Press The U.S. government reported more than 3.8 million laid-off workers applied for unemployment benefits last week, and data showed the European economy contracted by a record 3.8% in the first three months of the year. Continue reading
Apr 14 States confront practical dilemmas on reopening economies By Eric Tucker, Lori Hinnant, Frank Jordans, Associated Press As governments grapple with when and how to reopen their countries for business, the IMF projected that the world economy will suffer its worst year since the Great Depression. Continue reading