Category: ECONOMY

  • Fed’s Mester says economic growth ‘leveling off,’ sees more help needed

    Fed’s Mester says economic growth ‘leveling off,’ sees more help needed

    [ad_1] Cleveland Federal Reserve President Loretta Mester said activity is slowing in her region due to rising coronavirus cases, and she sees more policy help necessary to help the economy through the pandemic. Speaking to CNBC in a live interview Tuesday, the central bank official echoed comments from her Atlanta counterpart, Raphael Bostic, who also […]

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

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

    [ad_1] 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 what will be an otherwise robust third-quarter rebound in the U.S., according to Goldman […]

  • Raphael Bostic, the Fed’s first Black branch president, says racism has economic impacts

    Raphael Bostic, the Fed’s first Black branch president, says racism has economic impacts

    [ad_1] President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. Clodagh Kilcoyne | Reuters The Federal Reserve has a role to play in ending systemic racism, in the view of the central bank’s first Black regional […]

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

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

    [ad_1] 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 recent spike in coronavirus cases across many American states. High-frequency data had shown a […]

  • Stocks cut gains after Reuters reports big virus spike in Florida, Dow still up 200 points

    Stocks cut gains after Reuters reports big virus spike in Florida, Dow still up 200 points

    [ad_1] Stocks rose on Thursday as investors cheered a bigger-than-expected increase in jobs in June as the economy tries to claws back from the coronavirus shutdown. The Dow Jones Industrial Average traded 269 points higher, or 1.1%. The Nasdaq Composite hit a record high, climbing more than 1%. The S&P 500 gained 1.1%. The major […]

  • Jobs increase by 4.8 million, unemployment rate at 11.1%

    Jobs increase by 4.8 million, unemployment rate at 11.1%

    [ad_1] 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 million increase and a jobless rate of 12.4%. The report was released a day […]

  • Fed’s Bullard warns of financial crisis risks as virus cases spike

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

    [ad_1] 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 management on the part of the health policy, we could get a wave […]

  • 17.6 million unemployed Americans likely won’t return to old jobs

    17.6 million unemployed Americans likely won’t return to old jobs

    [ad_1] 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 left-leaning think tank.  About 11.9 million Americans who are unemployed as a result of the […]

  • Coronavirus is expected to tank U.S. auto sales in the second quarter

    Coronavirus is expected to tank U.S. auto sales in the second quarter

    [ad_1] Cars sit in a dealership lot on the first day that dealerships are allowed to open to the public on May 20, 2020 in Linden, New Jersey. Spencer Platt | Getty Images Fiat Chrysler’s U.S. vehicle sales in the second quarter fell by 38.6% as the coronavirus caused consumers to stay at home, and dealerships […]

  • ADP: Private payrolls June 2020

    ADP: Private payrolls June 2020

    [ad_1] A waitress wearing a mask helps customers at Cafe Luxembourg’s outdoor seating as the city moves into Phase 2 of re-opening following restrictions imposed to curb the coronavirus pandemic on June 22, 2020 in New York City. Alexi Rosenfeld | Getty Images Companies in June continued to bring workers back from their pandemic furlough […]