New US jobless claims for the week that ended Saturday totaled 778,000, the Labour Department said Thursday. The reading came in above the consensus economist estimate of 730,000 and showed an increase from the previous week’s revised figure. Continuing claims, which track Americans receiving unemployment benefits, fell to 6.1 million […]

US stocks fluctuated on Friday as soaring COVID-19 cases and disagreement on new stimulus offset positive developments for vaccine distribution. Pfizer and BioNTech both gained ahead of plans to apply for emergency-use authorization for their experimental coronavirus vaccine. The FDA’s vetting process is set to take a few weeks, teeing […]

The nation’s top two economic-policy officials locked horns on Thursday, a rare public disagreement as the coronavirus pandemic worsens and the pace of economic recovery weakens. Treasury Secretary Steven Mnuchin called for the Federal Reserve to return funds allocated to a spate of emergency lending facilities, leaving five programs to […]

Monetary policy is where it needs to be, and Congress needs to act quickly on new stimulus if it aims to avoid another economic slump, Federal Reserve Bank of Cleveland President Loretta Mester said Thursday. The lack of new fiscal aid after months of negotiations “is concerning,” she added in […]

Federal Reserve Chair Jerome Powell said Tuesday that although recent vaccine updates are “certainly good news,” the US economy faces a tough path to full recovery. Moderna and Pfizer and BioNTech recently announced their experimental vaccines were highly efficient at protecting trial patients from COVID-19. The news drove stocks to […]

US retail sales increased 0.3% in October, coming in below the consensus economist estimate of 0.5%. Spending at retailers also contracted from the month prior as lead-in to the holiday season squared off with soaring COVID-19 case counts. The reading still marks a sixth straight monthly improvement, although its still […]

Just as key fiscal relief policy expired, US virus cases were rising sharply. Congress’ $US2.2 trillion CARES Act was praised as a key driver of the US economy’s initial bounce-back. But components such as expanded unemployment benefits expired in July, just as US virus cases surged and the pace of […]

The US economy won’t return to the exact same state it was in before the pandemic, Federal Reserve Chair Jerome Powell said Thursday. The health crisis is accelerating digitization throughout the economy, and Americans already slammed by the virus’s fallout are at the highest risk of losing their jobs, he […]

New US jobless claims for the week that ended Saturday totaled 751,000, the Labour Department said Thursday. The reading came in above the consensus economist estimate of 735,000, but it showed a decline from the previous week’s revised figure. Continuing claims, which track Americans receiving unemployment benefits, fell to 7.3 […]

New US jobless claims for the week that ended Saturday totaled 751,000, the Labour Department said Thursday. The reading came in below the consensus economist estimate of 770,000, and it also shows a decline from the previous week’s revised figure. Continuing claims, which track Americans receiving unemployment benefits, fell to […]

The Federal Reserve has all but exhausted its policy ammo, and it’s up to Congress to pick up some slack, Bill Dudley, a former president of the New York Fed, said Wednesday. The central bank was praised for its creative and rapid response to the coronavirus outbreak’s economic fallout. But […]

IHS Markit’s gauge of US business activity rose to 55.5 in October from 54.3, signalling the fastest pace of growth since February 2019. Service-industry activity gained to 56 from 54.6, while manufacturing activity improved slightly to 53.3 from 53.2. Readings above 50 indicate industry growth, while those below the threshold […]

New US jobless claims for the week that ended Saturday totaled 787,000, the Labour Department said Thursday. The reading came in below the consensus economist estimate of 870,000, and also shows an decline from the previous week’s revised figure. Continuing claims, which track Americans currently receiving unemployment benefits, decreased to […]

While Democrats and the White House push forward with stimulus talks, Goldman Sachs still doesn’t expect a near-term breakthrough. Odds of a pre-election bill “continue to look very low” as the biggest issues between both parties loom large, the team led by Jan Hatzius wrote in a Tuesday note. Still, […]

The US economic recovery can continue without fresh stimulus, but the lack of a near-term deal could rankle markets, Seema Shah, chief strategist at Principal Global Investors, said Tuesday. Passing another aid package would be a “bonus” to the economy, but its rebound “is less dependent on fiscal stimulus than […]

The US economic recovery is becoming “extremely anemic” and risks falling into a double-dip recession, famed economist Nouriel Roubini said Monday. The Federal Reserve has done nearly all it can, and Congress now needs to step up with sweeping stimulus support, the economist nicknamed “Dr. Doom” added. “We know we […]

US stocks extended losses into Monday’s close as a lack of stimulus progress cut into hopes for a pre-election deal. House Speaker Nancy Pelosi expedited talks on Sunday, setting a 48-hour deadline for the White House and Democrats to ink a deal. She later told Democrats that significant obstacles in […]

Additional fiscal stimulus is needed to keep the economic recovery on track, former Federal Reserve Chair Janet Yellen said Monday. The central bank “has already done a huge amount,” and now Congress needs to pick up the slack, she said on Bloomberg TV. “While the pandemic is still seriously affecting […]

Investors are increasingly prepping for a Democratic sweep in November, as well as front-loaded stimulus to boost the economic recovery, JPMorgan said following a recent call with clients. Vice President Joe Biden maintains a hefty polling lead in what’s shaping up to be “the most stable election in modern history,” […]

Major economies may be well on their way to recovery, but outsized government borrowing runs the risk of fuelling a financial crisis, World Bank Chief Economist Carmen Reinhart said Thursday. The path of governments’ fundraising and bond-buying is “not sustainable” and could spark debt crises should they continue, the economist […]

US stocks gained on Friday as investors cheered a better-than-expected reading of September retail sales. American retail spending climbed 1.9% last month, more than doubling economist estimates. The reading marks the gauge’s fifth straight increase and a sharp bounce from August’s 0.6% gain. The encouraging economic data offset dwindling odds […]

US retail sales in September improved from the prior month as the nation contended with still-heightened coronavirus infection rates and a lack of new stimulus. Spending increased 1.9% last month, landing above the average economist estimate of 0.8%. The reading marks the fifth straight month of improvement and a sizeable […]

New US jobless claims for the week that ended Saturday totaled 898,000, the Labour Department said Thursday. The reading came in above the consensus economist estimate of 825,000, and also marks an increase from the previous week’s revised figure. Continuing claims, which track Americans receiving unemployment benefits, fell to 10 […]

Americans used most of their stimulus checks on buttressing their savings and paying down debts, researchers at the Federal Reserve Bank of New York said in a new study. Roughly 36% of the relief payments went to savings, and 35% was used to pay off debt, according to a June […]

US stocks rose on Monday as Democrats and Republicans inched closer to a stimulus compromise. Mega-cap companies including Apple and Amazon led indexes higher as investors rushed to the growth favourites. President Trump urged Republicans to speed up Amy Coney Barrett’s confirmation to the Supreme Court so that they can […]

Markets are weaving their own shaky stimulus narratives to climb higher, but several obstacles stand in the way of a new deal, Mohamed El-Erian, chief economic advisor at Allianz, said Monday. Investors continue to tell themselves “it’s a matter of time” before Congress reaches a compromise, but “there’s ongoing damage […]

US stocks rose on Monday as Democrats and Republicans inched closer to a last-minute stimulus compromise. The Trump administration lifted its proposal to $US1.8 trillion from $US1.6 trillion on Friday, inching closer to the Democrats’ preferred $US2.2 trillion size. Still, House Speaker Nancy Pelosi deemed the bill “one step forward, […]

US stocks gained on Thursday on revived hopes for near-term stimulus and on jobless claims that declined week-over-week. President Donald Trump indicated in a tweet late Tuesday that he backed a piecemeal strategy for passing smaller stimulus measures. The news boosted equities Thursday morning, but indexes pared gains after House […]

Minutes from the Federal Open Market Committee’s September 15-16 meeting show Federal Reserve officials raising concerns that a lack of new fiscal support could hinder the US economic recovery. FOMC participants “assumed the enactment of some additional policy support this year,” according to the minutes. Without such support, “the pace […]

After abruptly ending stimulus talks on Tuesday, President Trump reversed course and called for a piecemeal strategy to passing some economic aid. In Tuesday night tweets, the president called for Congress to pass $US25 billion in airline aid, $US135 billion in funds for the Paycheck Protection Program, and another round […]

Federal Reserve Chair Jerome Powell on Tuesday made his most pronounced call yet for additional relief spending, saying that the risks of passing too little stimulus far outweighed the risks of overspending and that a diminished rebound would be “tragic.” Hours later, President Donald Trump said in a tweet that […]

US equities plummeted on Tuesday after President Trump abruptly halted stimulus talks until after the November 3 election. “I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill,” Trump tweeted Tuesday afternoon. Major stock indexes gained […]

Second- and third-quarter growth was better than expected, but the global economy is still a long way from full recovery, Kristalina Georgieva, managing director of the International Monetary Fund, said in a Tuesday speech. The IMF will make a “small upward revision” to its 2020 growth forecast next week after […]

Failure to pass adequate and timely stimulus endangers the US economic recovery, Federal Reserve Chairman Jerome Powell said Tuesday. In one of his most pointed calls for new aid, Powell noted that the risks of passing new relief measures “are still asymmetric.” While overspending risks are small, passing too little […]

US stocks traded mixed on Tuesday as investors waited for economic-recovery commentary from Federal Reserve Chair Jerome Powell. The central bank chief is expected to reemphasize the importance of fiscal stimulus to the nation’s rebound. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are expected to continue stimulus negotiations […]

The Conference Board’s Consumer Confidence Index surged to 101.8 in August from 86.3 as Americans turned more hopeful toward the US economic recovery. The increase is the biggest one-month jump in 17 years and follows back-to-back declines through the summer. The index of present situations jumped to 98.5 from 85.8. […]

US equities surged on Monday as investors’ hopes for a smooth economic rebound outweighed rising coronavirus cases. Bank stocks led major indexes higher, marking a sharp pivot from the tech-led rallies seen throughout the summer. Investors cheered weekend comments from House Speaker Nancy Pelosi indicating that a last-minute stimulus measure […]

US equities gained in frothy Thursday trading as investors digested revived stimulus hopes and rising COVID-19 case counts. New-home purchases reached an annualized rate of 1 million in August, its fastest rate since 2006. The data drove indexes out of negative territory in morning trading. House Speaker Nancy Pelosi and […]

Goldman Sachs halved its outlook for fourth-quarter economic growth after changing its base case to include a lack of new stimulus until 2021. The bank’s economists lowered their gross domestic product forecast to 3% growth from 6% on a quarter-by-quarter basis in a Wednesday note. The lack of new fiscal […]

A new report from the International Labour Organisation details worse-than-expected damage in the global labour market and forecasts pain lasting through the fourth-quarter of 2020. The United Nations agency expects working-hour losses to remain elevated through the third quarter at 12.1%, or 345 million full-time-equivalent jobs. Global labour income is […]

Various speed bumps risk throwing off the now-steady US economic recovery, Federal Reserve Chair Jerome Powell said on Tuesday. While some corners of the economy including the housing market and household spending have rebounded, “great uncertainty” around the virus clouds the path forward, Powell said in remarks prepared for Tuesday […]

The Congressional Budget Office’s latest budget outlook sees federal debt becoming nearly twice the size of the US economy in 2050. Spending on economic relief throughout the coronavirus pandemic drove government debt to its highest since World War II. Higher borrowing costs and rising interest rates will drive debt to […]

Household net worth surged a record $US7.6 trillion in the second quarter to its highest level ever, according to Federal Reserve data published Monday. The gains were mostly fuelled by the stock market’s rapid bounce-back and relief spending included in March’s CARES Act. Equities alone added $US5.7 trillion to households’ […]

The University of Michigan’s consumer sentiment index jumped more than expected in a preliminary September reading as Americans’ views of the US economic recovery improved. The gauge rose to 78.9 from 74.1 to hit its highest point in six months. Still, the index sits roughly 22 points from its pre-pandemic […]

The Federal Reserve’s liquidity-boosting measures place the economy on track for a 2009-style upswing, Canaccord Genuity analysts said in a Thursday note. Policymakers signalled on Wednesday the central bank will hold rates near zero through 2023, and maintained asset purchases of at least $US120 billion in Treasurys and mortgage-backed securities […]

Various metrics tracking the US economic reopening pared gains after Labour Day spending proved short-lived. The holiday weekend lifted Goldman Sachs’ reopening scale to five out of 10 last week as spending on restaurants, hotels, and travel improved. The gauge sank back to four out of 10 this week, with […]

The global economy is set to shrink less than initially expected this year, the Organisation for Economic Co-operation and Development said Wednesday. The organisation lifted its outlook for global growth this year to a 4.5% contraction, an improvement from June’s forecast for 6% shrinkage. The OECD noted the rebound is […]

Americans spent less than expected at retailers in August as the economy reopened further. US retail sales increased 0.6% last month, missing the average economist estimate of 1%. Though the reading marks the fourth straight month of improvement, the indicator’s rally slowed through the summer as stimulus programs expired and […]

Investors who think central banks are out of policy ammunition are mistaken and could lose out on additional policy-driven gains, says Mark Haefele, chief investment officer at UBSWealth Management. The Federal Reserve has slowed its roll after rapidly deploying unprecedented relief measures, and is expected to stay its course during […]

Just as the coronavirus hit communities of colour disproportionately hard in the spring, those same communities face a tougher path to full economic recovery. According to a survey conducted by Goldman Sachs, Babson College, and David Binder Research, 39% of Black business owners receiving PPP loans have already been forced […]

Fresh stimulus, renewed hiring activity, and healthy inflation will usher in a full US GDP recovery two quarters sooner than previously expected, Morgan Stanley economists said in a Monday note. The bank expects lawmakers to pass a new relief package in September with between $US1.5 trillion and $US2 trillion in […]

Democrats must unite against Senate Republicans’ new slimmed-down proposal for fresh stimulus, Senate Minority Leader Chuck Schumer said in a Thursday letter to his caucus. The GOP is floating a bill expected to cost $US500 billion to replenish select relief programs. The proposal “appears to be completely inadequate and, by […]

House Democrats said in a Tuesday memo that early analysis of Paycheck Protection Program loans shows funds at risk for fraud and abuse. More than $US1 billion in relief funds were made to firms receiving multiple loans, the group said. The program set a one-loan limit for participating businesses. More […]

Small businesses are recovering well from the coronavirus pandemic and resulting lockdowns, Goldman Sachs economists led by Jan Hatzius said Sunday. Active small businesses shrank by 25% in April but now stand just 6% below their pre-COVID level, according to Goldman. Job losses linked to small business closures stand at […]

US stocks climbed on Wednesday as investors maintained optimism for a bipartisan stimulus measure. Democrats and the Trump administration hope to reach a deal by the end of the week but remain split on issues including expanded unemployment benefits and aid for state and local governments. Fears of rising US-China […]

US stocks climbed on Wednesday as investors remained hopeful for a stimulus bill breakthrough. Treasury Secretary Steven Mnuchin said Tuesday that Democrats and the Trump administration hope to reach a deal by the end of the week. Fears of rising US-China tensions eased following reports that senior officials from both […]

With monetary easing taking a back seat, it’s time for Congress to step up and issue more fiscal stimulus, Charles Evans, president of the Federal Reserve Bank of Chicago, said Monday. “The ball is in Congress’ court,” he said, according to Reuters, adding fiscal policy is “really fundamental for getting […]

Small businesses need more aid from Congress to avoid permanent closures and severe labour market pain, a group of more than 100 CEOs wrote in a Monday letter to lawmakers. Though the Paycheck Protection Program provided nearly $US520 billion in emergency loans, the program faces an August 8 expiration and […]

A ballooning savings rate and muted inflation expectations should drive Congress to spend more on economic stimulus, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said Sunday. The US personal savings rate leaped to 20% from roughly 8% during the pandemic. That stronger savings activity means the US […]

Leaders on Wall Street are calling on Congress to pass a second stimulus bill before key measures dry up and consumers face major financial hits. “Even though it’s hard and it’s expensive,” spending more to prop up aid programs helped blunt the coronavirus’s initial economic toll and can do so […]

The Paycheck Protection Program increased US employment by 1.4 million to 3.2 million from its inception to the first week of June, Federal Reserve and MIT researchers said in a study. Loans made through the program also lifted employment at eligible small businesses by 2% to 4.5%, the preliminary study […]

Senate Majority Leader Mitch McConnell said on Tuesday that the GOP supported another round of stimulus checks “to help American families keep driving our national comeback.” McConnell’s comment brings Republican legislators in line with the Trump administration and Democrats in supporting a second round of economic relief payments. However, they’re […]

A second coronavirus stimulus bill will likely not pass until August, House Minority Leader Kevin McCarthy said Tuesday on CNBC’s “Squawk Box.” The $US600-per-week expansion to unemployment benefits is set to expire in July, pulling a key lifeline for millions of jobless Americans. Democrats and Republicans have yet to agree […]

A second round of coronavirus stimulus will focus on returning kids to schools, improving hiring, and funding coronavirus vaccine development, Treasury Secretary Steven Mnuchin said Monday. The GOP plans to spend “another trillion dollars” on its upcoming fiscal package, Mnuchin said, far less than the $US3 trillion measure passed by […]

US stocks traded mixed on Monday as investors awaited updates on a second coronavirus stimulus package. Senate Majority Leader Mitch McConnell, Treasury Secretary Steven Mnuchin, and others are set to meet in the White House later on Monday to discuss another fiscal relief package. The talks arrive as the expansion […]

Preliminary July readings from the University of Michigan’s consumer sentiment gauge shows the index erasing recent gains amid new coronavirus outbreaks. The university’s Index of Consumer Sentiment fell to 73.2 from 78.1, and respondents’ view of current economic conditions sank to 84.2 from 87.1. “The widespread resurgence of the coronavirus” […]

A study published Thursday by the Urban Institute showed that wealthy and white households received economic-relief payments faster than Black and Hispanic families, as well as individuals below the poverty line. Nearly three-quarters of non-Hispanic white adults said they got their payment, according to the study. The proportions dropped to […]

The Federal Reserve will soon need to pivot from its immediate relief measures to long-term efforts to reach unemployment and inflation goals, central bank governor Lael Brainard said Tuesday. Soaring coronavirus case counts present significant downside risks, she said in a videoconference with the National Association for Business Economics, and […]

The US economy officially ended its V-shaped transition and entered its third and final phase of recovery, Bank of America economists said Friday. High-frequency economic data suggests the rapid bounce ended in June and gave way to a “healing phase” as reopenings boosted spending and hiring activity, the team led […]

A second wave of coronavirus infections could drive a slew of bankruptcies and kick off a dire financial crisis, James Bullard, president of the Federal Reserve Bank of St. Louis, told the Financial Times. The US is “still in the middle of the crisis here,” he said, adding “the disease […]

Federal Reserve officials called for detailed forward guidance and mulled additional policy tools during their June meeting, according to minutes released Wednesday. Policymakers expect “highly accommodative monetary policy” to last “for many years” until the economy poses a robust recovery. Central bankers agreed clearer forward guidance is “important” to effectively […]

Coronavirus cases have been skyrocketing in recent weeks, and at least part of the increase can be attributed to restaurants reopening their dining rooms. On Friday, Texas became the first state to partially reverse its reopening, and more shutdowns are on the horizon as cases continue to rise. These shutdowns […]

The Federal Reserve’s corporate-credit relief will move from exchange-traded fund purchases to taking in individual bonds, chairman Jerome Powell said Wednesday. Targeted bond purchases are “a better tool for supporting liquidity and market functioning,” Powell told the House Financial Services Committee. The statement follows the central bank announcing Monday it […]

Federal Reserve Chairman Jerome Powell said Tuesday that the US is nearing the end of its shutdown phase and beginning to bounce back. The central bank chair told the Senate Banking Committee in Tuesday testimony that surprisingly optimistic retail sales and jobs data suggest a bottom was reached in May. […]

The Federal Reserve announced Monday it will begin purchases of individual corporate bonds. The move comes nearly three months after first unveiling the Secondary Market Corporate Credit facility and one month after it began buying corporate-credit ETFs through the program. The central bank will “create a corporate bond portfolio that […]

An uncoordinated effort to contain the coronavirus can impede the US recovery from economic recession, Robert Kaplan, president of the Federal Reserve Bank of Dallas, said. Precautions such as wearing a mask and testing for new cases are “critical” to reviving economic activity, he added in a CBS interview aired […]

The Federal Reserve held interest rates near zero on Wednesday after a two-day FOMC meeting. The majority of policymakers expect historically low rates to last through 2022, according to a press release. The central bank also set a floor for its asset purchases, pledging to take in at least $US80 […]

The Federal Reserve’s array of lending facilities propped up credit markets and eased fears of default as the coronavirus continued to rage across the US. Working alongside the Treasury Department, the central bank’s programs target financial pressures in state and local governments, corporations, and small businesses. Here are the nine […]

The Federal Reserve is poised to implement stricter forward guidance and yield-curve control in September as the US economic rebound faces new challenges, Bank of America said Tuesday. The central bank’s “one-two punch” will focus on keeping rates near zero for a prolonged period, both through guidance statements and yield-curve […]

Senate Majority Leader Mitch McConnell said Friday that considerations on a “fourth and final” economic relief bill will begin “in about a month,” NPR reported. Congress has been mired in talks over additional aid. House Democrats passed a $US3 trillion spending package on May 15, but McConnell has since refused […]

The Federal Reserve’s “liquidity spigot” will close by 2021 as the government faces a new challenge in its ballooning debt balance, Henry McVey, head of global macro, asset allocation, and balance sheet investments at KKR, said Friday. Bond vigilantes – investors who short government bonds to combat inflation risks – […]

A Friday release detailed which corporate-credit ETFs the Federal Reserve bought up from the program’s May 12 start to May 18. BlackRock’s iShares iBoxx US Dollar Investment Grade Corporate Bond ETF was the most purchased, with the central bank buying up 2,521,892 shares over the period. Total purchases reached $US1.3 […]

The Federal Reserve is mulling yield-curve control as a method for ensuring borrowing costs stay at historically low levels through the coronavirus recession, New York Fed president John Williams said Wednesday. The tool allows central banks to target certain long-term interest rates through the buying and selling of bonds. Such […]

“There is a strong likelihood we will need another bill” to keep the economy afloat through the coronavirus pandemic, Treasury Secretary Steven Mnuchin told The Hill on Thursday. Mnuchin’s comments arrive as House Democrats’ $US3 trillion relief package sits stuck in the Senate, where Senate Majority Leader Mitch McConnell refuses […]

Minutes from the Federal Reserve’s April meeting detailed key risks facing the economy as coronavirus lockdowns dragged on. Members of the Federal Open Market Committee found that a “more pessimistic projection was no less plausible” than a base case that featured economic growth re-emerging in the second half of the […]

More stimulus from Congress is likely needed if the economy is to recover from its current slump, Robert Kaplan, president of the Federal Reserve Bank of Dallas, said Wednesday. Targeting state and local governments with aid will be key to ensuring a smooth rebound, he added in an interview on […]

The four Federal Reserve aid programs that haven’t launched yet – including its $US600 billion Main Street Lending Program – will be operational by the end of May, chair Jerome Powell said during a Tuesday Senate hearing. “People are working literally around the clock and have been for weeks” to […]

The Federal Reserve remains averse to negative interest rates despite the gloomy economic backdrop, Chairman Jerome Powell said Wednesday. The US economic trajectory is still “highly uncertain and subject to significant downside risks,” and additional aid is likely necessary stage a recovery, Powell added in a videoconference with the Peterson […]

The Federal Reserve will begin buying corporate-bond ETFs on May 12 as part of its widespread emergency relief plan, according to a Monday statement. The ETF purchases were first revealed on March 23. While the program’s unveiling immediately lifted risk assets and boosted investor sentiment, markets have been anticipating its […]

Federal Reserve officials took to videoconferences, TV appearances, and interviews last week to offer their take on the ailing US economy and what must be done to save it. Vice Chair Richard Clarida and Minneapolis Fed President Neel Kashkari agreed that the coronavirus’ labour-market fallout is likely worse than already-dismal […]

Paycheck Protection Program, or PPP, loan approvals are more concentrated in areas with existing small business-bank partnerships instead of regions hit hardest by the coronavirus, Federal Reserve Bank of New York economists wrote Wednesday. Virus hotspots including New York, New Jersey, Michigan, and Pennsylvania are receiving fewer PPP loan approvals […]

Christina Stembel founded her floral company, Farmgirl Flowers, in her dining room in 2010, using her personal savings and a cash-back credit card to cover business expenses . The company has since blossomed into a thriving startup that employed almost 200 staff members prior to the coronavirus. However, as the […]

In a new letter to Congress, bipartisan health experts who worked under the Bush, Obama, and Trump administrations recommend that the US should invest $US46.5 billion to try to ensure a safe reopening of its economy. The letter contains four steps the experts say are necessary to safely open shuttered […]

Warren sent a letter to Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell on Tuesday, pressing them to ensure stimulus money for corporations is responsibly used. “I will be watching carefully as you hand out these funds,” Warren wrote. A battle is brewing among top Democrats and the […]