The number of people claiming unemployment has spiked significantly, with a new Department of Labor report claiming that a 33 percent week-to-week increase is the highest since the Great Recession.
President Trump Thursday continued to negotiate a one trillion dollar stimulus package for the economy that would see half a trillion dollars sent out to individual Americans within nine weeks.
Referring to the fight against the novel coronavirus as a war, President Donald Trump said Wednesday he is invoking the Defense Production Act (DPA) to help protect the country.
Saying that ‘in a sense’ he is ‘a wartime president,’ President Donald Trump wants Congress to approve $500 billion in new spending to send money directly to American households reeling from the ongoing coronavirus pandemic.
The S&P 500 rose 6% on Tuesday, a day after its steepest decline since the 1987 crash, as the Federal Reserve took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
The White House proposed an $850 billion stimulus package Tuesday for an economy that has been rocked by coronavirus fears, the Trump Administration expecting bipartisan support for a move that may involve sending Americans $1,000 checks.
Stocks fell sharply Monday — with the Dow suffering its worst day since the ‘Black Monday’ market crash in 1987 and its third-worst day ever — even after the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the coronavirus outbreak.
The White House Monday issued new COVID-19 guidelines for Americans to follow over a crucial 15-days period, as President Donald Trump said that ongoing efforts to stop the spread of the novel coronavirus could continue on until the middle of summer or even longer.
The Federal Reserve, saying ‘the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,’ cut interest rates to essentially zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the virus.
The U.S. House early Saturday passed bipartisan legislation in response to the coronavirus pandemic.
U.S. President Donald Trump has declared a national emergency, clearing the way for more federal aid to stream to states and cities to combat the coronavirus pandemic.
The U.S. central banking system announced moves Thursday to stabilize the global financial system by putting $1.5 trillion into short-term lending markets, and the purchase of $60 billion in Treasury bonds to fuel the bond market.
Stocks plummeted once again on Thursday after President Donald Trump and the Federal Reserve both failed to quell concerns over the economic slowdown stemming from the coronavirus, leading to a historic drop for the U.S. markets.
The federal government set records for both the amount of taxes it collected and the amount of money it spent in the first five months of fiscal 2020 (October through February), according to data released today in the Monthly Treasury Statement.
President Donald Trump said Wednesday he is suspending all travel between the U.S. and Europe for 30 days beginning Friday as he seeks to combat a viral pandemic.
Nonfarm payrolls increased by 273,000 in February, surpassing economists’ 175,000 estimate. Unemployment also slightly dropped to 3.5 percent, matching its lowest level in more than 50 years, according to the latest report by the U.S. Department of Labor.
U.S. stocks rallied at opening Tuesday, recouping some of Monday’s losses after President Trump floated a payroll tax holiday to stimulate economic growth against the coronavirus.
Serious measures against the spread of the coronavirus are being applied in multiple states, after falling stocks Monday caused all trading on Wall Street to temporarily cease and the US confirmed 550 cases across 20 states.
The Dow Jones Industrial Average sank more than 2,000 points on Monday, its worst day since 2008, as fears about the spread of the new coronavirus and an oil price war sent investors scrambling out of stocks.
Forty-five thousand more people were employed in February than in January, bringing the total number employed — 158,759,000– to the second highest level in the nation’s history.