The White House is making "contingency plans" for a second wave of coronavirus after emails reportedly contradict their claims that Centers for Disease Control and Prevention guidelines to safely reopen the economy were set aside because medical experts did not approve of them.
"The economic and jobs numbers are going to continue to deteriorate," Kudlow said on Friday.
The nation's unemployment rate is the worst since the Great Depression, hitting 14.7 percent for April.
The last time Bitcoin hit five figures was on February 24, with some investors viewing it as a safe bet against inflation during the current pandemic.
A total of 6.3m jobs have been temporarily laid off by 800,000 companies so far but it could lead to the highest employment in modern times.
Prime Minister Trudeau said Thursday that Canada's essential workers were "tremendously economically vulnerable."
Nevada and Rhode Island are both set to begin "phase one" of plans to reopen their economies amid the COVID-19 pandemic on Saturday.
"At the high end, we will have returned to a level of employment last experienced in the mid-1990s," economist Elise Gould wrote.
The Department of Labor released new figures showing another 3.1 million Americans filed initial jobless claims last week.
The central bank said that the economy could shrink by 14 percent in 2020, based on estimates of the lockdown being eased in June.
A new poll indicates that 70 percent of American voters are more concerned about an increased spread of COVID-19 due to a relaxing of social distancing they are about any potential additional damage to the economy.
Congressman Don Beyer released a report last week arguing that unemployment insurance should be automatically tied to economic conditions.
"Both the depth of the recession and the strength of recovery will be uneven," the EU's economy commissioner said.
President Donald Trump advocated a quick reopening for the U.S. economy on Tuesday, while conceding that the decision could cost "some" additional lives lost to COVID-19.
"We think we ought to take a pause here, do a good job of evaluating what we've already done," McConnell said Tuesday.
New York Governor Andrew Cuomo suggested that leaders deciding to reopen the economy against the advice of public health experts and despite rising death tolls amid the COVID-19 pandemic were choosing to value money over human life.
"My guess right now is that it's going to be north of 16 percent, maybe as high as 19 or 20 percent," Kevin Hassett said.
New York Rep. Hakeem Jeffries urged the federal government to show "maximum transparency" about its stimulus loan program to support small companies with their payroll costs.
"This is a very positive sign and it has happened for only one reason," Newsom said, "the data says it can happen."
A majority of Americans are very concerned about the economic impact caused by the novel coronavirus pandemic, according to a new poll.
Polled voters were also found to be optimistic about the economy's future while they remained split on the state of their personal finances.
Stephen Moore projected unemployment would hit 15 to 20 percent in many states.
Ohio Governor Mike DeWine said Thursday that his stay-at-home order, which had been set to expire on Friday, will be extended for an undetermined time, although many retail stores will be able to reopen on May 12.
The Department of Labor reported on Thursday that more than 30 million workers have applied for unemployment.
It looks like "lockdown fatigue" is making people less worried about the impacts of COVID-19 on both them personally and the country as a whole.
About 1.6 billion people – nearly half of the global workforce – are in "immediate danger of having their livelihoods destroyed," according to the ILO.
New data released by the Department of Labor showed 3.8 million filed jobless claims in the week ending April 25.
Research published by the American Bus Association predicted the motorcoach industry could lose $4.7 billion and more than 27,000 jobs.
Wynn Resorts CEO Matt Maddox told President Donald Trump during a Wednesday roundtable event that he hoped casinos on the Las Vegas strip would be reopened by May 25.
"These steps will be deliberate," DeSantis said Wednesday. "They will not be like turning off a switch."