Federal Reserve officials think the economy has bottomed out.
A chorus of the Federal Reserve’s top officials said on Tuesday that the United States economy was probably past its pandemic-era low point, although they signaled that the recovery ahead was likely to be long and uncertain.
Jerome H. Powell, the
A Federal Reserve official recommended further government spending to help ensure that the recovery from the pandemic-induced recession was faster — and reached vulnerable populations much more quickly — than those that followed previous deep downturns.
“The hardest lesson from both the Great Depression and the Great Recession is that
The Labor Department said Thursday that 1.5 million Americans filed new state unemployment claims last week — the lowest number since the coronavirus pandemic shut down much of the U.S. economy in March, but far above normal levels.
The weekly report on unemployment claims comes after the government reported that
Wall Street wavers as global markets climb.
Stocks on Tuesday mostly shrugged off increasingly chaotic scenes throughout the United States, as protesters and police faced off across the country and President Trump threatened to use the military to quell widespread unrest sparked by the death of George Floyd, a black
Hertz, the car rental giant, could seek bankruptcy court protection if it fails to strike a deal with its creditors on Friday.
The company, which has seen sales collapse in recent weeks as people stay home, missed about $400 million in lease payments on its fleet late last month.