Economy

2020-04-23 15:08:31
by Dan McCue
Poll Finds Majority of Americans Want Congress to Return to Washington Immediately

WASHINGTON - As the House prepares to vote on a $483 billion coronavirus aid package, a majority of Americans say... Read More

WASHINGTON - As the House prepares to vote on a $483 billion coronavirus aid package, a majority of Americans say they'd like Congress to return to Washington immediately to try to deal with the ongoing coronavirus outbreak, a new poll... Read More

2020-04-23 15:04:53
by Dan McCue
Pandemic Continues to Stifle Economy as 4.4 Million More Seek Jobless Aid

WASHINGTON - Just over 4.4 million more Americans filed for unemployment benefits last week as the coronavirus pandemic and efforts... Read More

WASHINGTON - Just over 4.4 million more Americans filed for unemployment benefits last week as the coronavirus pandemic and efforts to tame it continue to batter the U.S. economy. The Labor Department said Thursday that 4,427,000 Americans applied for benefits... Read More

2020-04-22 17:49:04
by Dan McCue
Census Bureau to Gather Data on Disruptions Caused by Coronavirus Outbreak

WASHINGTON - The Census Bureau is launching two new surveys to gather data on disruptions to households and small businesses... Read More

WASHINGTON - The Census Bureau is launching two new surveys to gather data on disruptions to households and small businesses due to the coronavirus outbreak. The bureau received emergency approval from the Office of Information and Regulatory Affairs on Sunday... Read More

2020-04-21 20:55:29
by Dan McCue
Problem Solvers Release Reopening and 'Back to Work' Checklist

WASHINGTON - The bipartisan Problem Solvers Caucus has released a lengthy checklist it hopes will help guide the White House... Read More

WASHINGTON - The bipartisan Problem Solvers Caucus has released a lengthy checklist it hopes will help guide the White House and congressional leaders as they continue to work toward fully reopening the U.S. economy. While the caucus, which has 25... Read More

2020-04-21 20:42:37
by Dan McCue
White House, Congress Reach Bipartisan Deal on $500 Billion Virus Relief Bill

WASHINGTON - Congressional negotiators and the White House reached agreement Tuesday on a $500 billion coronavirus relief bill that includes... Read More

WASHINGTON - Congressional negotiators and the White House reached agreement Tuesday on a $500 billion coronavirus relief bill that includes $331 billion to replenish a small business rescue fund while also providing an additional $75 billion to hospitals. The new... Read More

2020-04-21 20:33:38
by Dan McCue
Blue Dogs Call on Administration to Prioritize Community-Based Financial Institutions

WASHINGTON - The Blue Dog Coalition urged the Trump administration Tuesday to fix problems community-based financial institutions are encountering as... Read More

WASHINGTON - The Blue Dog Coalition urged the Trump administration Tuesday to fix problems community-based financial institutions are encountering as they try to access the Paycheck Protection Program. In a letter to Treasury Secretary Steven Mnuchin and Jovita Carranza, administrator... Read More

Oil Spirals Below Zero in ‘Devastating Day’ for Global Industry

The day started like any other gloomy Monday in the oil market’s worst crisis in a generation. It ended with... Read More

The day started like any other gloomy Monday in the oil market’s worst crisis in a generation. It ended with prices falling below zero, thrusting markets into a parallel universe where traders were willing to pay $40 a barrel just... Read More

2020-04-20 19:25:12
by Dan McCue
Senators Make Bipartisan Push for Local News Media Support

WASHINGTON - A bipartisan quartet of Senators is urging the chamber's leadership to support aid to local newspaper, radio and... Read More

WASHINGTON - A bipartisan quartet of Senators is urging the chamber's leadership to support aid to local newspaper, radio and television stations in the next iteration of the federal Paycheck Protection Program. In a letter sent to Senate Majority Leader... Read More

Trump Unveils Phased Approach to Reopening Economy

WASHINGTON (AP) — New White House guidelines outline a phased approach to restoring normal commerce and services, but only for... Read More

WASHINGTON (AP) — New White House guidelines outline a phased approach to restoring normal commerce and services, but only for places with strong testing and seeing a decrease in COVID-19 cases. President Donald Trump unveiled his administration's plans to ease... Read More

2020-04-16 19:16:01
by Dan McCue
Kilmer, Murphy Among Those Named to White House Task Force on Rebuilding American Economy

WASHINGTON - Reps Derek Kilmer, D-Wash., and Stephanie Murphy, D-Fla., are among the bipartisan group of congressional lawmakers named to... Read More

WASHINGTON - Reps Derek Kilmer, D-Wash., and Stephanie Murphy, D-Fla., are among the bipartisan group of congressional lawmakers named to a White House panel tasked with counseling the White House on when and how to get the economy moving again... Read More

2020-04-16 14:54:31
by Dan McCue
Governors Brace for 'New Normal' as They Take Steps to Kick-Start Economies

WASHINGTON - Ahead of an expected White House announcement on the easing of restrictions meant to curb the spread of... Read More

WASHINGTON - Ahead of an expected White House announcement on the easing of restrictions meant to curb the spread of the COVID-19 virus, governors across the nation are preparing for a "new normal" that will be quite different from the... Read More

White House to Unveil Guidelines for Reopening Economy

President Donald Trump nudged the nation’s governors on Wednesday to get ready to reopen their economies and dubiously threatened to... Read More

President Donald Trump nudged the nation’s governors on Wednesday to get ready to reopen their economies and dubiously threatened to override them should they refuse, as the country’s coronavirus death toll continued to skyrocket. Speaking from the White House Rose... Read More

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

WASHINGTON - In an unprecedented move, President Donald Trump's name will be printed on the stimulus checks the Internal Revenue... Read More

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

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

WASHINGTON — Despite the widespread hoarding of toilet paper, hand sanitizer and other items that continue to leave many store... Read More

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

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

WASHINGTON - The global economy will likely experience the worst recession since the 1930s as governments around the world fight... Read More

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

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

When the coronavirus started shutting down livestock markets, Darvin Bentlage knew his farm would take a hit. Springtime cattle sales... Read More

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

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

The governors of California, Oregon and Washington announced Monday that they've come to an agreement on a shared vision for... Read More

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

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

WASHINGTON - House Majority Leader Steny Hoyer urged the National Governors Association Friday to direct its members to collect demographic... Read More

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

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

WASHINGTON - As Congress considers a fourth coronavirus relief package, it must include direct and flexible funding and resources to... Read More

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

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

WASHINGTON — The Trump administration agreed on Friday to pursue bipartisan talks with members of the House and Senate on... Read More

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

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

WASHINGTON - Treasury Secretary Steven Mnuchin said Thursday he believes the U.S. could reopen for business in May, following a... Read More

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

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

WASHINGTON — President Donald Trump on Tuesday summarily removed the inspector general who was tapped to chair a special oversight... Read More

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

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

WASHINGTON - The U.S. economy lost 701,000 jobs in March as the coronavirus outbreak spread, ending more than a decade... Read More

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

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

WASHINGTON - The rating agency Moody's downgraded its outlook for non-bank mortgage lenders in the U.S. from "stable" to "negative"... Read More

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

WASHINGTON (AP) — It may be an odd gesture at a time of social distancing, but President Donald Trump is... Read More

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

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

WASHINGTON - More than 6.6 million Americans filed new claims for unemployment benefits last week, shattering the record number for... Read More

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

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

WASHINGTON‌ ‌-‌ ‌Attorneys‌ ‌general‌ ‌nationwide‌ ‌are‌ ‌joining‌ ‌in‌ ‌urging‌ ‌companies‌ ‌that‌ ‌sell‌ ‌ online to‌ ‌stop‌ ‌price-gougers‌ ‌trying‌ ‌to‌ ‌take‌ ‌advantage‌... Read More

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

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

WASHINGTON - The Treasury Department provided some guidance Monday night on how it will award grants and loans to airlines... Read More

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

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

WASHINGTON - Even before Congress had passed the third economic stimulus package of the coronavirus era on Friday, talk had... Read More

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

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

WASHINGTON - Presidential Donald Trump announced Sunday that federal social distancing guidelines that were set to expire March 30 will... Read More

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

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