Fed Chair Powell says recovery incomplete, higher inflation unlikely
Federal Reserve Chair Jerome Powell underscored the U.S. economy's ongoing weakness Tuesday in remarks that suggested that the Fed sees no need to alter its ultra-low interest rate policies anytime soon.
Draghi takes helm in Italy, focused on pandemic recovery aid
Draghi and his 23 Cabinet ministers took their oaths of office at the Quirinal presidential palace. Italian President Sergio Mattarella had tasked the former European Central Bank president with trying to form a government up to managing the the health,…
WATCH: Biden wants to go big, fast and alone on COVID relief
Biden says the rescue plan he is pushing forward in Congress is the "answer to the crisis we are in."…
U.S. employers add just 49,000 jobs as unemployment falls to 6.3 percent
U.S employers added just 49,000 jobs in January, a sign that that the viral pandemic retains a tight grip on the economy nearly a year after it triggered a painful recession.
The number of Americans seeking unemployment benefits declined to 779,000 last week, a still-historically high total that shows that a sizable number of people keep losing jobs to the viral pandemic.
A hopeful view is gaining steam that as vaccinations reach a critical mass in the United States, perhaps around midyear, the economy and the job market will strengthen much faster.
Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4 percent annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years.
The last major economic report before Election Day indicates a 7.4 percent growth rate in economic output during the year’s third quarter. It’s a sharp rebound from the record plunge of the previous quarter, and the fastest pace since World…
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…
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