News

The Fed and the Treasury are butting heads over more emergency relief at a time when spiking virus cases make cooperation more important than ever

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 […]
The Fed and the Treasury are butting heads over more emergency relief at a time when spiking virus cases make cooperation more important than ever
News

‘We’re not going back to the same economy’: The rise of technology poses risks to low-paid service workers amid the ongoing recovery, Fed Chair Powell says

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 […]
‘We’re not going back to the same economy’: The rise of technology poses risks to low-paid service workers amid the ongoing recovery, Fed Chair Powell says
Markets

The Fed warned of ‘tragic’ consequences if the US didn’t do more to support its economic recovery. Hours later, Trump killed talks about more stimulus.

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 […]
The Fed warned of ‘tragic’ consequences if the US didn’t do more to support its economic recovery. Hours later, Trump killed talks about more stimulus.
Markets

Dow caps off best quarter since 1987 as strong economic data drives gains

US stocks rose on Tuesday as better-than-expected economic data outweighed mounting concern over a second wave of COVID-19 cases. The Dow Jones industrial average’s 18% gain in the three-month period from April through June marked the index’s best quarterly return since 1987. US consumer confidence jumped in June the most […]
Dow caps off best quarter since 1987 as strong economic data drives gains
Markets

Dow falls 200 points as investors weigh a global resurgence in virus cases

US stocks fell on Thursday as investors reacted to a resurgence of coronavirus cases. States including Texas, North Carolina, and Arizona have reported record hospitalizations related to COVID-19 this week, while China is grappling with its worst outbreak since the initial Wuhan spike. US weekly jobless claims hit 1.5 million […]
Dow falls 200 points as investors weigh a global resurgence in virus cases