Economy

Economy Lost 701K Jobs After Coronavirus Bite Took Hold
Employment
Economy Lost 701K Jobs After Coronavirus Bite Took Hold
2020-04-03 16:46:32
by Dan McCue

WASHINGTON - The U.S. economy lost 701,000 jobs in March as the coronavirus outbreak spread, ending more than a decade of uninterrupted employment growth, the Bureau of Labor Statistics reported Friday. The bureau's monthly employment situation report attributed the shedding... Read More

Ratings Agency Says Non-Bank Mortgage Lenders Face 'Intense' Liquidity Crunch
Economy
Ratings Agency Says Non-Bank Mortgage Lenders Face 'Intense' Liquidity Crunch
2020-04-03 16:44:54
by Dan McCue

WASHINGTON - The rating agency Moody's downgraded its outlook for non-bank mortgage lenders in the U.S. from "stable" to "negative" on Thursday, warning the industry faces "intense" liquidity problems due to the ongoing coronavirus outbreak. As previously reported in The... Read More

Boost the Schmooze? Trump Wants Tax Dining Deduction Back
Business
Boost the Schmooze? Trump Wants Tax Dining Deduction Back

WASHINGTON (AP) — It may be an odd gesture at a time of social distancing, but President Donald Trump is leaning into his plea to Congress to restore full tax benefits prized by business for fine dining and schmoozing. Trump... Read More

Jobless Claims Reach New Record High As 6.6 Million File for Assistance
Economy
Jobless Claims Reach New Record High As 6.6 Million File for Assistance
2020-04-02 17:17:24
by Dan McCue

WASHINGTON - More than 6.6 million Americans filed new claims for unemployment benefits last week, shattering the record number for the second week in a row, the Labor Department announced Thursday. Last week, 3.3 million people filed jobless claims, meaning... Read More

Coronavirus Recession Now Expected to be Deeper and Longer
Economy
Coronavirus Recession Now Expected to be Deeper and Longer

WASHINGTON — As projections of the coronavirus death toll soar, forecasts for the ensuing economic carnage have also quickly turned much darker – both for the depth and duration of the damage. Where only days ago, economists were following President... Read More

Former Fed Chairwoman Warns ‘Prolonged Recession’ Possible
Economy
Former Fed Chairwoman Warns ‘Prolonged Recession’ Possible

WASHINGTON — Janet Yellen, the former chairwoman of the Federal Reserve, warned Monday that the longer the economy is locked down, the worse the recession will be. But she added she was encouraged by the actions of the Fed and... Read More

Price-Gougers‌ ‌Face‌ ‌a‌ ‌Crackdown‌ ‌for‌ ‌Profiting‌ ‌on‌ ‌Coronavirus‌
In The News
Price-Gougers‌ ‌Face‌ ‌a‌ ‌Crackdown‌ ‌for‌ ‌Profiting‌ ‌on‌ ‌Coronavirus‌
2020-03-31 20:43:46
by Tom Ramstack

WASHINGTON‌ ‌-‌ ‌Attorneys‌ ‌general‌ ‌nationwide‌ ‌are‌ ‌joining‌ ‌in‌ ‌urging‌ ‌companies‌ ‌that‌ ‌sell‌ ‌ online to‌ ‌stop‌ ‌price-gougers‌ ‌trying‌ ‌to‌ ‌take‌ ‌advantage‌ ‌of‌ ‌consumers‌ ‌during‌ ‌the‌ ‌coronavirus‌ ‌pandemic. They‌ ‌are‌ ‌selling‌ ‌hand‌ ‌sanitizers,‌ ‌aerosol‌ ‌spray‌ ‌disinfectants,‌ ‌surgical‌ ‌masks‌ ‌and‌ ‌other‌ ‌devices designed‌ ‌to‌ ‌prevent‌... Read More

Treasury Rolls Out Airline Aid Strategy, Urging Carriers to Act Quickly
Economy
Treasury Rolls Out Airline Aid Strategy, Urging Carriers to Act Quickly
2020-03-31 17:59:31
by Dan McCue

WASHINGTON - The Treasury Department provided some guidance Monday night on how it will award grants and loans to airlines affected by the coronavirus outbreak, urging them to apply for "payroll support" by Friday. The department said the resources it... Read More

Real Estate Industry Hoping for Stimulus Aid for Non-Depository Lenders
Economy
Real Estate Industry Hoping for Stimulus Aid for Non-Depository Lenders
2020-03-31 16:14:38
by Dan McCue

WASHINGTON - Even before Congress had passed the third economic stimulus package of the coronavirus era on Friday, talk had turned to what should be included in a currently hypothetical, but no less likely, fourth stimulus bill. Among the welcome... Read More

White House Listens to Disease Experts, Extends Social Distancing Order
Health
White House Listens to Disease Experts, Extends Social Distancing Order
2020-03-30 16:48:49
by Dan McCue

WASHINGTON - Presidential Donald Trump announced Sunday that federal social distancing guidelines that were set to expire March 30 will be extended another month, this after aggressive lobbying by his coronavirus task force. In recent days President Trump has repeatedly... Read More

House Passes $2.2 Trillion Economic Stimulus Package, Trump Quickly Signs It
Congress
House Passes $2.2 Trillion Economic Stimulus Package, Trump Quickly Signs It
2020-03-27 20:05:37
by Dan McCue

WASHINGTON - The U.S. House of Representatives passed a $2.2 trillion economic stimulus package in what had to be record time on Friday, speedily sending the bill on to the White House for the president's signature. “This will deliver urgently... Read More

Expert Says USMCA Will Make North American Firms More Competitive
Trade
Expert Says USMCA Will Make North American Firms More Competitive
2020-03-27 13:40:19
by Dan McCue

WASHINGTON - Although it barely caused a ripple given the understandable focus on the worldwide coronavirus outbreak, a historic new chapter in North American commerce began two weeks ago Friday, when Canada became the third and final country to ratify... Read More

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