Tag: economy

Why The Economy Is Unlikely To Recover As Quickly As It Collapsed

By Josh Boak | April 9, 2020 2:22 p.m.

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

By MARTIN CRUTSINGER | April 9, 2020 9:28 a.m.

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)

New CBO Projections Are Bleak

By Joe Ragazzo | April 2, 2020 4:44 p.m.

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.

NEW YORK, NY - MARCH 06: A New York Labor Department office is viewed in Manhattan

We’re About To Get A Ton Of New Economic Data

By Joe Ragazzo | March 30, 2020 2:13 p.m.

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.