Economy

Goldman lowers economic outlook as U.S. copes with rising coronavirus cases

Medical workers prepare to intubate a coronavirus disease (COVID-19) patient at the United Memorial Medical Center's coronavirus disease (COVID-19) intensive care unit in Houston, Texas, U.S., June 29, 2020. Callaghan O'Hare | Reuters Rising coronavirus cases will limit growth in...

Fed’s Bostic reportedly says U.S. recovery may be ‘leveling off’

Raphael Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta  Christopher Dilts | Bloomberg | Getty Images Atlanta Federal Reserve Bank President Raphael Bostic said the U.S. economic recovery is in danger of stalling due to the...

Economy’s second-half comeback is now threatened by coronavirus resurgence

A worker wearing a protective mask and gloves assembles face shields at the Cartamundi-owned Hasbro manufacturing facility in East Longmeadow, Massachusetts, April 29, 2020. The factory is making 50,000 face shields per week for hospitals in Massachusetts and...

Fed’s Bullard warns of financial crisis risks as virus cases spike, FT reports

James Bullard Olivia Michael | CNBC St. Louis Federal Reserve Bank President James Bullard has warned that a growing number of bankruptcies due to the coronavirus outbreak could lead to a financial crisis, the Financial Times reported. "Without more granular risk...

Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to...

Nonfarm payrolls soared by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the coronavirus pandemic, the Labor Department said Thursday. Economists surveyed by Dow Jones had been expecting a 2.9...

Stocks rise after better-than-expected jobs report to close out winning week

Stocks rose on Thursday following a better-than-expected U.S. jobs report as the economy tries to recover from the coronavirus pandemic.  The Dow Jones Industrial Average closed 92.39 points higher, or 0.4%, at 25,827.36. The Nasdaq Composite hit a record high,...

June private payrolls rose 2.37 million and there was a big positive revision for...

Companies in June continued to bring workers back from their pandemic furlough as the national economy slowly came back to life. Private payrolls grew by 2.369 million for the month, a bit lower than the 2.5 million expectation from economists...

17.6 million unemployed Americans probably won’t return to their pre-pandemic jobs

Just over 1 in 10 Americans who are out of work because of the coronavirus pandemic don't have a good chance of getting called back to their old jobs, according to recent research from the Economic Policy Institute, a...

Fragile economic recovery faces first big test with June jobs report in the week...

People are walking by the New York Stock Exchange (NYSE) building during Covid-19 pandemic in New York on May 26, 2020. Tayfun Coskun | Anadolu Agency | Getty Images The second half of 2020 is nearly here, and now it's...

Home prices heated up in April, despite brief sales drop from coronavirus, S&P Case-Shiller...

A for sale sign is seen in front of a home as the National Association of Realtors released a report showing that home sales dropped in December of 2017 on January 24, 2018 in Miami, Florida. Joe Raedle |...

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