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Donald Trump is delighted with a rebound in the US economy six months after the onset of the health crisis. While the numbers do point to an increase in employment, there is no room for optimism.
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Massive federal spending meant to blunt the coronavirus’s economic impact could have long-term costs, experts say — meaning those stimulus checks might not be free money after all. Congress’s unprecedented stimulus measures coupled with the Federal Reserve’s aggressive efforts to shore up the economy could drive up inflation in the coming years, leaving Americans with …
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Some 860,000 Americans applied for unemployment benefits last week as the coronavirus pandemic continued to weigh on the US labor market, the feds said Thursday. Last week’s initial jobless claims dropped from the prior week’s revised total of 893,000 but brought the total for the coronavirus pandemic to more than 61 million — a number …
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The Federal Reserve kept interest rates pinned near zero on Wednesday and promised to keep them there until inflation is on track to “moderately exceed” the US central bank’s 2 percent inflation target “for some time.” The change in guidance is part of a monetary policy shift announced by the Fed last month that is …
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The coronavirus pandemic may not damage the global economy as badly as previously feared, an influential group says. The Organization for Economic Cooperation and Development said Wednesday that it now expects worldwide gross domestic product — a key measure of economic health — to drop by 4.5 percent this year, down from its June forecast …
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US retail sales climbed less than expected last month, another signal that the economic recovery from the coronavirus pandemic has slowed. Retailers and food-service merchants raked in $537.5 billion in August, a modest 0.6 percent increase from the prior month that came in below experts’ estimates for a 1 percent rise, the US Census Bureau …
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Lead by example, Mr. Mayor! Stephen Green, founder of the city’s largest commercial real estate company SL Green Realty Corp., exhorted Mayor Bill de Blasio to bring his staff back to the office to help jumpstart the city’s coronavirus recovery. “I believe he should bring back his staff and the city tenants first. At SL …
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Some 884,000 Americans applied for unemployment benefits last week as the labor market’s recovery from the coronavirus crisis stalled once again, new data show. That means a seasonally adjusted total of 60.1 million initial jobless claims have flooded unemployment offices during the COVID-19 pandemic — a number larger than the entire population of South Africa. …
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The Justice Department is reportedly planning to bring antitrust charges against Google in the coming weeks after Attorney General William Barr decided to move forward over the objections of DOJ lawyers who say they need more preparation time to prosecute the massive technology company. The DOJ’s antitrust division opened its probe into Google last summer …
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The US economy added 1.4 million jobs last month in the latest sign that the nation’s recovery from the coronavirus pandemic is losing steam, the feds said Friday. The unemployment rate dropped to 8.4 percent in August as businesses continued to reopen following lockdowns that gutted the economy this spring, according to the Bureau of …
Donald Trump is delighted with a rebound in the US economy six months after the onset of the health crisis. While the numbers do point to an increase in employment, there is no room for optimism.
