U.S. Treasury Secretary Steven Mnuchin requested the return of $455 billion in coronavirus-related funding by the Federal Reserve on Thursday.
Senate Majority Leader Mitch McConnell on Thursday continued to shoot down Democratic calls for a comprehensive stimulus package.
The U.S. left the Paris Agreement on climate change the day after the 2020 presidential election.
The deadline to pass the next federal spending budget falls on December 11. Congress must approve another bill by that date to avoid a government shutdown.
Major U.S. banks follow the Federal Reserve's holiday schedule, which observes days like Thanksgiving and Christmas.
Some businesses shut for federal holidays—is your bank one of them?
Millennials are the largest group in the U.S. workforce but have 10 times less money than Baby Boomers control today.
First-time unemployment claims increased the most last week in the states of Indiana, Kansas, Illinois and Michigan, with some economists saying the U.S. economy is "running on empty."
As the novel coronavirus continues to infect Americans and hurt the country's economy, the 12 Federal Reserve Bank chairs have spoken about how the economy could recover in the future.
Federal Reserve Chairman Jerome Powell has been tipped to outline the central bank's most active efforts yet in bringing inflation back to a healthy ballpark.
"You don't need to shut down businesses that you don't need to shut down," said St. Louis Federal Reserve President James Bullard.
The sandwich chain said the $10 million loan "will go to our dedicated employees, to preserving jobs and to keeping shops open."
The calls come as many support measures are about to or have expired. There is no set deadline for the passing of a second stimulus bill.
The Federal Reserve announced a program to support the corporate debt market, but there could be more bankruptcies, which so far this year have topped 3,000.
Jerome Powell told lawmakers that the path to economic recovery was "extraordinarily uncertain" amid the continued spread of COVID-19.
Comedian and actor Roseanne Barr believes President Donald Trump intends to end taxation and all debts as part of an unevidenced pushback against the Federal Reserve.
"The expansions announced yesterday to the Main Street Lending Program are the result of an extensive comment period, and are designed to better meet the needs of small and medium-sized businesses," said U.S. Department of Treasury Secretary Steven Mnuchin in a statement.
The Federal Reserve chairman added that the U.S. economy would "get through this" downturn onset by the coronavirus pandemic.
"We'll get through this. It may take a while," Powell said in an interview. "It could stretch through the end of next year."
"If this is a slow recovery, the way I think it is," Kashkari said, "there are going to be a lot of families that are going to need direct financial assistance."
"Additional fiscal support could be costly," Powell continued, "but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery."
"We should prepare for the worst-case scenario," Neel Kashkari cautioned.
"Our country's highest priority must be to address this public health crisis, providing care for the ill and limiting the further spread of the virus," Federal Reserve Chairman Jerome Powell said in a statement.
The former chair of the Federal Reserve made the suggestion during a conference call with House Democrats on how the coronavirus pandemic is hurting the economy.
"There should have been a pandemic playbook," Dimon wrote in a letter to shareholders, noting that the U.S. was not prepared for the crisis.
The global economy is also on course for its worst year since the end of the Second World War, Capital Economics said.
The U.S. Federal Reserve analysts said the unemployment rate may soar past 32 percent and the coronavirus freeze on the economy could cost 47 million Americans their jobs.
Jerome Powell said in a rare interview he believed there could be a "good rebound" on the back of the economy's pandemic-related decline.
"Because people start getting sick, the hospitals get overflowing and then people will isolate themselves," Ben Bernanke explained.