U.S. jobless claims expected at record high
New jobless claims in the United States are expected to have soared to 4 million over last week. Lucia Mutikani reported the news for Reuters: The number of Americans filing claims for unemployment benefits likely raced to as high as a record 4 million last week as strict measures to contain the coronavirus pandemic ground […]
Trump, Congress agree on $2-trillion aid package
President Trump and Congress have agreed on an unprecedented $2-trillion financial aid package to help people and industries cope with the coronavirus outbreak. Andrew Taylor, Lisa Mascaro, and Jonathan Lemire reported the news for the AP: The White House and Senate leaders of both parties announced agreement early Wednesday on unprecedented emergency legislation to rush […]
Fed brings out heavy artillery against crisis
The Federal Reserve unveiled a new, more aggressive set of measures to stimulate the economy amid the coronavirus crisis. Brian Cheung reported the news for Yahoo News: The Federal Reserve called a third emergency meeting to combat the economic impact of the novel coronavirus and unveiled a number of new and “extensive” measures on Monday […]
California on lockdown
California Governor Gavin Newsom has ordered a statewide lockdown to contain the spread of the coronavirus. Weizhen Tan and Riya Bhattacharjee reported the news for CNBC: California Gov. Gavin Newsom on Thursday issued a statewide order for all residents to ‘stay at home’ amid a coronavirus outbreak. “We need to bend the curve in the […]
Washington defers tax payments until July
The U.S. federal government has deferred all tax payments for 90 days, until July 15. AP’s Martin Crutsinger had the news: The Trump administration says individuals and businesses will be allowed to delay paying their 2019 tax bills for 90 days past the usual April 15 deadline. The extension announced Tuesday is an effort to […]
U.S. airlines ask for aid package
U.S. airlines have asked the government for an aid package that could top $50 billion. AP’s David Koenig reported: With each day that the coronavirus outbreak spreads and claims more lives, the damage to global airlines rises too. U.S. carriers on Monday put a price tag on their pain: They asked the federal government for […]
Fed slashes interest rates to zero
The Federal Reserve announced another emergency rate cut to between 0 and 0.25% and said it will launch a $700-billion quantitative easing program. Lewis Krauskopf reported the news for Reuters: A massive rollout of easing measures by the Federal Reserve served to deepen some investors’ anxiety over how effectively policymakers will be able to mitigate […]
U.S. bans travel from Europe
President Trump announced a ban on travel from Europe as the number of infected with the Covid-19 coronavirus grows. Kevin Liptak and Maegan Vazquez reported the news for CNN: President Donald Trump said Wednesday he was sharply restricting travel to the United States from more than two dozen European countries, a drastic step he framed […]
Energy bill stalls amid coolant dispute
An energy bill that enjoys bipartisan support has stalled in the Senate on an dispute about the phaseout of coolants. Matthew Daly reported the news for the AP: It was supposed to be a bipartisan moment for the Senate. But now a sweeping energy package touted as a “down payment” on fighting climate change is […]
Trump proposes payroll tax relief
President Donald Trump has floated the idea of a payroll tax cut in response to the spreading coronavirus epidemic. Zeke Miller reported the news for the AP: President Donald Trump said Monday his administration will ask Congress to pass payroll tax relief and other quick measures as a public health and economic maelstrom brought on […]
