Economy

President Trump's Name to be Embossed on Stimulus Checks
In The News
President Trump's Name to be Embossed on Stimulus Checks
2020-04-15 18:56:33
by Dan McCue

WASHINGTON - In an unprecedented move, President Donald Trump's name will be printed on the stimulus checks the Internal Revenue Service is about to start sending to millions of Americans across the country. The inclusion of Trump's name was first... Read More

Retail Sales Plunge a Historic 8.7% After Pandemic Takes Hold
Economy
Retail Sales Plunge a Historic 8.7% After Pandemic Takes Hold
2020-04-15 14:42:12
by Dan McCue

WASHINGTON — Despite the widespread hoarding of toilet paper, hand sanitizer and other items that continue to leave many store shelves bare, U.S. retail sales plunged 8.7% in March, an unprecedented decline, the Commerce Department reported Wednesday. The deceleration of... Read More

Maryland, Virginia and DC to Work Together on Plan for Lifting Restrictions
State News
Maryland, Virginia and DC to Work Together on Plan for Lifting Restrictions

BALTIMORE — While Northeast states have announced a pact to figure out when and how to lift restrictions imposed to slow the spread of the coronavirus, Maryland continues to coordinate its response to the pandemic with its southern neighbors in... Read More

Reopening the Economy Requires Testing, and the US Still Isn’t Close
Economy
Reopening the Economy Requires Testing, and the US Still Isn’t Close

WASHINGTON — Six weeks after the president and other senior officials promised that any American would soon be able to get a test for coronavirus, testing continues to lag, prompting an escalating call from leading medical centers, lawmakers and others... Read More

IMF Says World Faces Prospect of Deep Recession In COVID-19's Wake
Economy
IMF Says World Faces Prospect of Deep Recession In COVID-19's Wake
2020-04-14 21:26:05
by Dan McCue

WASHINGTON - The global economy will likely experience the worst recession since the 1930s as governments around the world fight to end the coronavirus outbreak and restart their economies, the International Monetary Fund said Tuesday. The organization, which is headquartered... Read More

Small Farmers Worry Government Won’t Bail Them Out of Pandemic Woes
Agriculture
Small Farmers Worry Government Won’t Bail Them Out of Pandemic Woes
2020-04-14 21:07:19
by Gaspard Le Dem

When the coronavirus started shutting down livestock markets, Darvin Bentlage knew his farm would take a hit. Springtime cattle sales usually bring in about a third of his ranching income, and cattle prices were already at a low, he said. ... Read More

Western States Forge Pact to Manage Restart of Economy
State News
Western States Forge Pact to Manage Restart of Economy
2020-04-14 13:23:46
by Dan McCue

The governors of California, Oregon and Washington announced Monday that they've come to an agreement on a shared vision for reopening their economies and controlling COVID-19 in the future. In a joint statement, Govs. Gavin Newsom, Kate Brown and Jay... Read More

Northeast’s Governors Partner to Plan Reopening
Economy
Northeast’s Governors Partner to Plan Reopening

WASHINGTON — The governors of Connecticut, Delaware, New Jersey, New York, Pennsylvania and Rhode Island are forming a regional working group to determine when it will be safe to begin reopening their economies, and how they will do so, they... Read More

Hoyer Presses States to Collect Data on Racial Disparities and COVID-19
Civil Rights
Hoyer Presses States to Collect Data on Racial Disparities and COVID-19
2020-04-10 19:05:47
by Dan McCue

WASHINGTON - House Majority Leader Steny Hoyer urged the National Governors Association Friday to direct its members to collect demographic data on racial disparities and the coronavirus outbreak. Hoyer's request, directed to Govs. Larry Hogan, of Maryland, and Andrew Cuomo,... Read More

Congress Called on to Include 'Direct and Flexible Funding' to All Counties in Next Relief Bill
County News
Congress Called on to Include 'Direct and Flexible Funding' to All Counties in Next Relief Bill
2020-04-10 19:03:37
by Dan McCue

WASHINGTON - As Congress considers a fourth coronavirus relief package, it must include direct and flexible funding and resources to counties of all sizes, the National Association of Counties said this week. In a lengthy letter sent to the leaders... Read More

White House Agrees to Bipartisan Talks on Interim 'Paycheck Protection' Bill
Economy
White House Agrees to Bipartisan Talks on Interim 'Paycheck Protection' Bill
2020-04-10 18:40:40
by Dan McCue

WASHINGTON — The Trump administration agreed on Friday to pursue bipartisan talks with members of the House and Senate on an interim bill to boost funding to the federal government's $350 million "Paycheck Protection" program. Senate Minority Leader Chuck Schumer... Read More

Starting Next Week, Americans Can Give IRS Deposit Info to Get Stimulus Check Faster
Economy
Starting Next Week, Americans Can Give IRS Deposit Info to Get Stimulus Check Faster

WASHINGTON — As soon as next week, Americans will be able to provide the Internal Revenue Service with direct deposit information so they can receive their stimulus checks of up to $1,200, Treasury Secretary Steven Mnuchin told House Democrats in... Read More

Treasury Secretary Says US Economy Could Be Back in Business by May
Economy
Treasury Secretary Says US Economy Could Be Back in Business by May
2020-04-09 17:42:17
by Dan McCue

WASHINGTON - Treasury Secretary Steven Mnuchin said Thursday he believes the U.S. could reopen for business in May, following a near halt caused by the coronavirus outbreak. During an extended interview on CNBC's "Squawk on the Street" program, Mnuchin said... Read More

Trump Removes Watchdog Expected to Oversee $2 Trillion Virus Relief Fund
Political News
Trump Removes Watchdog Expected to Oversee $2 Trillion Virus Relief Fund
2020-04-07 20:48:33
by Dan McCue

WASHINGTON — President Donald Trump on Tuesday summarily removed the inspector general who was tapped to chair a special oversight board of the $2.2 trillion economic package intended to help businesses and individuals affected by the coronavirus. Glenn Fine, the... Read More

No Probe on Trump’s Early Virus Response, House Democrat Says
Congress
No Probe on Trump’s Early Virus Response, House Democrat Says

House Majority Whip Jim Clyburn said it’s unlikely a congressional panel overseeing coronavirus relief will investigate the Trump administration’s initial response to the pandemic that’s claimed thousands of American lives. “This committee will be forward-looking,” Clyburn told CNN’s Jake Tapper... Read More

Democrats Urge Mnuchin to Avoid ‘Unreasonable’ Terms on Airlines
Economy
Democrats Urge Mnuchin to Avoid ‘Unreasonable’ Terms on Airlines

WASHINGTON — House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer urged the Treasury Department to move more quickly to help airlines to save industry jobs and refrain from imposing “unreasonable conditions” that might spur some carriers to decline... Read More

‘Hardest, Saddest’ Days Ahead in COVID-19 Outbreak, Surgeon General Warns
Health
‘Hardest, Saddest’ Days Ahead in COVID-19 Outbreak, Surgeon General Warns

WASHINGTON — As the U.S. coronavirus death toll neared 10,000 on Sunday, Surgeon Gen. Jerome Adams said the coming week would be “the hardest and saddest of most Americans’ lives,” likening the projected loss of life to “our Pearl Harbor... Read More

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

Mass Layoffs Hit the Economy. Can the Stimulus Plan Stem the Tide?
Economy
Mass Layoffs Hit the Economy. Can the Stimulus Plan Stem the Tide?

WASHINGTON — Even in the darkest hours of 2008, when the nation teetered on the edge of a second Great Depression, Congress never passed anything close to the economic stimulus plan scheduled for final approval Friday. The Senate’s roughly $2-trillion... Read More

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