Powell says a full economic recovery may not happen without a vaccine
The Fed noted that the recovery likely would depend on how Americans feel about their safety.
Federal government should help states, cities and hospitals recover from coronavirus, Gary Cohn says
The federal government should help cities, states and hospitals recover some of the money lost amid the coronavirus pandemic, President Donald Trump’s former economic advisor Gary Cohn said Monday. “I’m not trying to help cities and states get back to...
Trump advisor Kevin Hassett: Fed chief too pessimistic on time it’ll take for economy to recover
White House senior advisor Kevin Hassett told CNBC on Monday he disagrees with Fed Chairman Jerome Powell on the time-frame for an economic recovery.
LinkedIn data shows U.S. job hiring may have hit bottom in mid-April
Luis Mora stands in front of the closed offices of the New York State Department of Labor on May 7, 2020 in Brooklyn, New York City. Stephanie Keith | Getty Images The coronavirus pandemic created a huge crash in new...
Powell says GDP could shrink more than 30%, but he doesn’t see another Depression
The central bank chief conceded that jobless numbers will look a lot like they did during the 1930s.
Stocks making the biggest moves in the premarket: Moderna, Goldman Sachs, Under Armour & more
Take a look at some of the biggest movers in the premarket: Moderna (MRNA) – The biotech company announced positive interim data from a phase 1 study of its novel coronavirus vaccine candidate. Moderna said dose-dependent increases in immune responses...
Top money manager cuts exposure, warns stocks are too expensive
Stocks may be coming off their worst week in about two months, but Bryn Mawr Trust’s Jeffrey Mills warns there are few bargains. He believes Wall Street isn’t accurately pricing in pain of the economic shutdowns. “We don’t love the...
GDP could decline by 42% in the second quarter, according to the Atlanta Fed
The Bronx Chamber of Commerce is worried the retail vacancy rate will skyrocket due to the shutdown caused by the pandemic. Spencer Kimball | US The already dismal outlook for economic growth during the current period just got considerably worse....
This breakdown of retail sales data shows why Amazon is leading the stock market
Consumer spending plunged by a record 16.4% in April, but one category saw a bounce: nonstore retailers. Included in this category, which saw an 8.4% month-over-month increase, is online shopping. With much of the country under shelter-in-place orders during April,...
Consumer sentiment unexpectedly rises after massive U.S. fiscal stimulus
U.S. consumer sentiment inched higher in the early part of May after massive stimulus measures undertaken by the government to sustain the economy amid the coronavirus pandemic, according to data released Friday. The University of Michigan’s consumer sentiment index came...
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