economy

US Economy Contracted At Head-Spinning 33% Rate Last Quarter
Shoppers walks past a sign encouraging masks at SouthPark Mall, Wednesday, May 13, 2020, in Strongsville, Ohio. Ohio retail businesses reopened Tuesday following a nearly two-month-long shutdown ordered by Gov. Mike DeWine to limit the spread of the coronavirus.  (AP Photo/Tony Dejak)
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Fed Chair Warns Of Prolonged Recession From Coronavirus Pandemic
Sharpest Drop On Record: Consumer Spending Plummets 7.5% In March
A For Sale By Owner and closed due virus sign are shown at Images On Mack in Grosse Pointe Woods, Mich., Thursday, April 2, 2020. The coronavirus COVID-19 outbreak has triggered a stunning collapse in the U.S. workforce with 10 million people losing their jobs in the past two weeks and economists warn unemployment could reach levels not seen since the Depression, as the economic damage from the crisis piles up around the world. (AP Photo/Paul Sancya)
Coming Soon: A ‘Tsunami’ Of Business Bankruptcies
US Retail Sales See Record Drop As Coronavirus Shutters Stores
IMF: Global Economy Will Suffer Worst Year Since The Great Depression
Federal Reserve Chair Jerome Powell pauses during a news conference, Tuesday, March 3, 2020, to discuss an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus “poses evolving risks to economic activity."  (AP Photo/Jacquelyn Martin)
Fed Rolls Out $2.3 Trillion Program To Stabilize Economy
New CBO Projections Are Bleak
WASHINGTON, DC - The Congressional Budget Office report on the cost of the Senate healthcare bill is expected today on Capitol Hill in Washington, DC Monday June 26, 2017. The Congressional Budget Office hallways on the 4th floor of the Ford House Office Building. (Photo by Melina Mara/The Washington Post)

The congressional budget office (CBO) put out a report today on the impacts of coronavirus to the economy and it is bleak. Perhaps the most jarring nugget is they think the country could have a 9% unemployment rate at the end of 2021.

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We’re About To Get A Ton Of New Economic Data
NEW YORK, NY - MARCH 06: A New York Labor Department office is viewed in Manhattan

In times of crisis, the kind of economic data that is ordinarily only of interest to economists and finance pros draws more attention from the rest of us as we look for signs of what is going on, and what is to come. Last week’s jobless claims number, the highest in United States history, was a sobering look at what is in store economically.

This week we’ll get another round of jobless claims numbers, along with looks at manufacturing and service jobs that will help us understand the velocity and depth of the economic crisis we are facing. 

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Federal Reserve Ramps Up Efforts To Support Economy
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