Fed Chair Powell unveiled a plan to let inflation run above target to make up for years of low price increases. It would keep rates near zero longer
Author: Paul Davidson, USA TODAY
‘What am I going to do at 55?’: More temporary layoffs could become permanent during COVID-19 recession
More temporary layoffs and furloughs are likely to become permanent job cuts, economists say, prolonging the labor market’s recovery
1.1M more workers file for unemployment as tally remains at historic high during COVID-19 crisis
Another 1.1M workers file initial jobless claims, a measure of layoffs, as COVID-19 spikes ease in some states, linger in others
1.8M jobs added in July, unemployment falls to 10.2% as some states halt reopening, others throttle back
The economy added 1.8M jobs in July, unemployment fell to 10.2% as some states reopen economies, others pull back
Worried about another slump, many firms hire temporary workers instead of permanent staffers
Many businesses are hiring temporary workers and contractors because they can be easily let go if the economy turns south again
Layoffs: 1.4M more workers likely filed jobless claims as states pull back on reopenings
Another 1.4 million workers likely filed initial unemployment claims, indicating layoffs have persisted as states pause or roll back reopening plans.
US economy contracted record 32.9% in Q2 amid state shutdowns, COVID-19 contagion fears
U.S. gross domestic product fell at annual rate of 32.9% in second quarter as states shut down nonessential businesses and consumers largely stayed home.
With coronavirus surging, Fed keeps key interest rate near zero, vows more support
With COVID-19 resurgent across much of U.S., the Fed held interest rates near zero and vowed more support for economy. It noted pickup in jobs and economy.
2nd-quarter GDP out Thursday morning: “Really, you’re going to see just godawful numbers just across the board.”
U.S. economic output likely fell at record 35% annual rate in the second quarter. The rebound is threatened by COVID-19 spikes, state reclosings.
Amid COVID-19 spikes, reopening rollbacks, Fed could signal near-zero rates for even longer
Amid coronavirus spikes, the Fed Wednesday could signal it intends to keep interest rates near zero even longer and juice its bond buying stimulus