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US weekly jobless claims blow past 6 million mark

Lucia Mutikani, Reuters
Posted at Apr 02 10:22 PM

The number of Americans filing claims for unemployment benefits shot to a record high of more than 6 million last week as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession. Read more »

US weekly jobless claims surge to record 3.28 million

Lucia Mutikani, Reuters
Posted at Mar 26 09:40 PM

The number of Americans filing claims for unemployment benefits surged to a record of more than 3 million last week following strict measures to contain the coronavirus pandemic. Read more »

US Congress homes in on $2 trillion rescue for coronavirus-hit economy

Michael Mathes, Agence France-Presse
Posted at Mar 25 08:27 AM

US lawmakers scrambled Tuesday to seal a deal that buttresses the teetering economy by giving roughly $2 trillion to hospitals, businesses and ordinary Americans buckling under the strain of the coronavirus pandemic.   Read more »

Federal Reserve ramps up help to US economy on life support

Heather Scott, Agence France-Presse
Posted at Mar 24 12:31 PM

The Federal Reserve launched an unprecedented effort on Monday to flood the US economy with money amid the chaos caused by the coronavirus pandemic, as Congress debated a rescue plan for American workers and companies. Read more »

Trump ponders early end to coronavirus economic shutdown

Agence France-Presse
Posted at Mar 23 09:14 PM

President Donald Trump hinted strongly on Monday that he is running out of patience with the economic shutdown caused by mass quarantine measures against the coronavirus. Read more »

US Fed mounts aggressive new steps to combat coronavirus hit to economy

Reuters
Posted at Mar 23 08:46 PM

The US Federal Reserve on Monday said it would begin backstopping an unprecedented range of credit for households, small businesses and major employers in an effort to offset the "severe disruptions" to the economy caused by the coronarvirus outbreak. Read more »

Stocks rise as governments throw kitchen sink at virus

John Biers, Agence France-Presse
Posted at Mar 20 06:18 AM

Beaten-down European and US stocks rose Thursday, as markets weighed massive government stimulus efforts against early indicators of what is expected to be a deep and painful economic downturn. Read more »

Trump administration urges rapid stimulus approval as economy tanks

Heather Scott, Agence France-Presse
Posted at Mar 20 06:13 AM

Amid growing evidence of the damage inflicted on the US economy by the coronavirus pandemic, Treasury Secretary Steven Mnuchin is urging Congress to pass a $1 trillion emergency stimulus package immediately. Read more »

US Fed creates new mechanism to ensure credit available

Agence France-Presse
Posted at Mar 18 06:44 AM

Amid fears the American financial system will lock up, the Federal Reserve on Tuesday announced yet another mechanism to ensure credit will be available to US homes and businesses.  Read more »

With store shelves emptying, Trump assures US has 'no shortages'

Agence France-Presse
Posted at Mar 16 06:57 AM

Food has been quickly disappearing from US supermarket shelves in signs of panic-buying but President Donald Trump and other government and industry officials assured on Sunday that the supply chain is intact and there's plenty of food.  Read more »

Trump economic stimulus against coronavirus off to slow start

Chris Stein, Agence France-Presse
Posted at Mar 11 08:34 AM

President Donald Trump's push for economic stimulus measures to combat market turmoil caused by the growing coronavirus crisis got a slow start Tuesday after talks with skeptical lawmakers. Read more »

Global economy faces 'tornado' as coronavirus sends markets into tailspin

Matt Phillips, Peter Eavis and David Enrich, The New York Times
Updated as of Mar 10 08:51 AM

The fast-spreading coronavirus and a plunge in oil prices set off a chain reaction in financial markets on Monday, a self-perpetuating downward cycle that could inflict serious harm on the global economy. Read more »

Travel is safe despite virus, US industry chiefs say

Agence France-Presse
Posted at Mar 05 07:47 AM

Travel in the United States is safe and the economic hit from the coronavirus will be minimal, industry chiefs said Wednesday, even as cases of the virus multiply in the country.   Read more »

Fed says coronavirus causing disruptions, widespread concern

Heather Scott, Agence France-Presse
Posted at Mar 05 07:11 AM

The coronavirus outbreak has already disrupted travel and access to goods for US industry, and businesses nationwide sounded the warning that things could get worse, the Federal Reser ve said Wednesday. Read more »

EXPLAINER: US benchmark yield slides below 1 percent. What does it mean?

Karen Brettell, Reuters
Posted at Mar 04 08:22 AM

Treasury yields are falling as investors anticipate a weak global economic growth outlook, which has been worsened by the coronavirus. Lower yields also reflect benign inflation as the Federal Reserve struggles to achieve its target of 2 percent price increases. Read more »

Fed vs coronavirus: What can the US central bank do?

Heather Scott, Agence France-Presse
Posted at Mar 03 07:21 AM

Wall Street has tanked, some factories in China have shuttered and businesses and investors fear the new coronavirus could damage the global economy and maybe even cause a recession. Read more »

US firms to see no earnings growth in 2020 as coronavirus spreads: Goldman

Reuters
Posted at Feb 27 09:56 PM

US companies will generate no earnings growth in 2020 as the coronavirus spreads beyond China, deepening risks to global growth, Goldman Sachs said on Thursday. Read more »

Trump economic adviser sees no US recession ahead

Agence France-Presse
Updated as of Feb 26 08:33 AM

President Donald Trump's chief economic adviser said Tuesday he sees no downturn looming for the US economy, even as the coronavirus epidemic hits the Chinese economy and Germany and Japan flirt with recession.   Read more »

White House trumpets economic success compared to Obama

Agence France-Presse
Updated as of Feb 21 08:18 AM

With the US presidential campaign heating up, the White House continues to look backward, comparing President Donald Trump's economic record to his predecessor Barack Obama.  Read more »

Benefits of China trade truce 'limited': Fed officials

Heather Scott, Agence France-Presse
Posted at Feb 20 07:01 AM

While US trade tensions with China have receded, Federal Reserve officials worry the danger to the economy is not over, according to minutes of the last policy meeting released Wednesday.   Read more »