U.S. Economy
Unemployed Workers Could Still Get Extra Money in GOP's Next Stimulus Plan
Though they initially gave the cold shoulder to the idea of extending the $600 per week bonus past its July 31 deadline, Senate Republicans are warming to the idea of stretching the extra payout period while reducing the benefit.
Pandemic Expected to Shrink U.S. GDP by $8 Trillion, Report Shows
A report from the Congressional Budget Office shows the pandemic has devastated U.S. businesses and spending to the extent that it will shrink the country's gross domestic product by nearly $8 trillion over the next decade.
Biden, the Moderate, Plans the Most Radical Economic Overhaul Since FDR
To revive the economy, Joe Biden wants to build his own New Deal with an array of proposals to strengthen the social safety net and revive prosperity. The big question: Is he up to the challenge?
Americans May Get Weekly $450 Back-to-Work Bonus, White House Adviser Says
A $450 weekly return-to-work bonus is one of the incentives legislators are considering as a strategy to jumpstart the economy and get Americans back to work.
70 Percent of Americans Think Economy is in Poor Shape Amid Pandemic: Poll
The percentage of Americans who approve of the President Trump's handling of the economy has fallen to its lowest level in months, according to the survey.
Small Businesses Struggle to Recover in States Among First to Reopen
A majority of small businesses in Georgia, South Carolina and Texas reported a decrease in revenue even weeks after their state started to reopen.
Fed Chair: Reserve Using 'Full Range of Tools' to Fight Economic Decline
"We are committed to using our full range of tools to support the economy in this challenging time even as we recognize that these actions are only a part of a broader public-sector response," Fed Chair Jerome Powell will say during congressional testimony on Tuesday.
Economic Collapse Could Sink Trump's Re-Election in Key Swing States
"The central argument of the Trump re-election as his campaign team envisioned it doesn't exist anymore," one strategist said.
Many U.S. Households Say Their Income Unaffected or Higher Despite Crisis
The Bankrate.com research looked at the state of household finances in the U.S. during what is set to be one of the deepest recessions on record.
Can Workers' Unions Organize During the Pandemic?
Report from the Deep South: A community coalition tried an alternative approach at an Alabama bus plant.
White House Economic Adviser Says Unemployment Numbers Will Get Worse
"The economic and jobs numbers are going to continue to deteriorate," Kudlow said on Friday.
Coronavirus, Economic Stress Contribute to Low Life Satisfaction in U.S.
A sharp drop in life satisfaction has been recorded among Americans since the coronavirus began spreading across the U.S., Gallup pollsters found.
Coronavirus Could Devastate State Unemployment Systems After Recession Ends
"I would fully expect harsh cuts to unemployment benefits in the years to come," said Andrew Stettner, a senior fellow at The Century Foundation.
Small Businesses Didn't Get Paycheck Protection Program Loans, NY Fed Says
Most PPP loans have gone to central and midwestern states that have reported the fewest number of coronavirus cases.
McConnell Wants to Stop Blue State Bailouts, but Red States Need Help Too
"The virus is everywhere. Every state has needed to take action to slow its spread, and that has had major effects on each of their economies," said the Center on Budget and Policy Priorities' Michael Leachman.
Why the U.S. Economy May Never Be the Same Again After Coronavirus
It will take years before the economy is at pre-pandemic levels again.
U.S. Economy Contracts at Fastest Pace Since Great Recession, Worse to Come
The U.S. economy is contracting sharply because of the coronavirus pandemic and millions of Americans are out of work.
Can States Declare Bankruptcy?
"There would be a lot of hoops to jump through and constitutional considerations to get out of way to even consider state bankruptcy," one expert said.
Texas Will Start Reopening Businesses Including Restaurants on May 1
Governor Greg Abbott announce the next phase of of his plan to slowly reopen businesses in Texas while continuing to curb the spread of COVID-19 with social distancing and testing.
78% of Small Business Owners Say Congress Should Provide More Funds: Survey
More than half of small business owners said the Paycheck Protection Program should be extended for three months.
Whitmer Says Construction May Be Next Sector to Reopen in Michigan
"Everything I've done has been about saving lives," Governor Whitmer told Politico.
Was Andrew Yang Right? Economic Cost of Coronavirus Builds Interest in UBI
Yang pushed a version of UBI that would set up a permanent system for paying every American adult $1,000 per month: an idea that seemed naive but is now in the mainstream political debate.
Over 7 in 10 Employers Are Struggling to Adapt to Remote Work, Survey Shows
Two out of three employers surveyed said that maintaining employee morale amid the coronavirus pandemic has been a challenge.
What State Governors Have Said About Plans To Reopen Economies
Some states plan to open back up for business in the coming weeks, while others are organizing committees and task forces to determine the path forward.
Trump Says We're Opening Up; Scientists Say We'll Be Back in Lockdown Again
The computer analysis showed that as restrictions loosen, the coronavirus will make a comeback; social distancing rules would have to go into effect a second time.. and a third, and so on. And it might not even work.
Republican Senators Call for Quick Reopening of Parts of the Economy
"We are doing enormous damage every week that goes by where people are not allowed to work," Senator Pat Toomey said.
Reopening the Economy Will Rely on Widespread Testing and Public Confidence
In a Gallup poll in early April, just 20 percent of Americans said they would readily resume normal activities once allowed to do so.
Economic Impact of COVID-19 on Women is 'Devastating,' Says Sheryl Sandberg
"You know how they say never waste a crisis? We need to not waste this moment to fix the structural problems that women face," Sandberg said.
Who Will Benefit From Federal Reserve's $2.3T Main Street Loans Program?
"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.
What Is an Essential Business? A State-by-State Roundup of What's Open
Supermarkets, hospitals, gas stations and banks are some of the businesses that have been deemed too critical to be closed.