Bank Of America Says The Recession Is Already Here: 'Jobs Will Be Lost, Wealth Will Be Destroyed'
Bank of America issued a dire warning to investors on Thursday: The recession is here. Read more
Economist: Next Week's Jobless Claims Could Hit 2 Million As Coronavirus Halt Slams Labor Market
"It looks to me like the order of magnitude in most states seems to be about 10 times higher than the normal weekly numb... Read more
Weekly Jobless Claims Jump To 281,000 Ahead Of Surge In Coronavirus Layoffs
Jobless claims rose to 281,000 last week, reflecting only the first indications of the impact the coronavirus will have ... Read more
Unprecedented Spike In Weekly Jobless Claims Is Just The Start, As Unemployment Is Set To Double
Thursday's spike in weekly jobless claims, considered the canary in the coal mine for labor, signals the start of a crus... Read more
Investor Ray Dalio Estimates The Corporate Losses In The US From Coronavirus Will Top $4 Trillion
The Bridgewater Associates founder also estimated the global corporate losses will hit $12 trillion due to the pandemic. Read more
US Producer Prices Post Biggest Drop In Five Years
U.S. producer prices fell by the most in five years in February, pulled down by declines in the costs of goods such as g... Read more
Interest Rates Are Rising, A Bad Sign As The Economy Slides Toward Recession
The Fed is throwing all its fire power at markets, but interest rates continue to rise, a troubling sign when the econom... Read more
From Boeing To Tennessee Whiskey, Coronavirus Bailout Requests Top $1 Trillion
As the coronavirus outbreak threatens to bring U.S. economic activity to a grinding halt, American businesses are jockey... Read more
Federal Reserve To Shore Up Prime Money Market Funds Amid Wall Street Rout
The new Money Market Mutual Liquidity Fund will provide loans to financial institutions to buy assets from prime money m... Read more
President Trump Signs Coronavirus Relief Plan To Expand Paid Leave
President Donald Trump on Wednesday signed a $100 billion coronavirus aid package into law which includes provisions for... Read more
General Motors, Ford And Fiat Chrysler To Temporarily Close All US Factories Due To The Coronavirus
Detroit's Big Three automakers plan to temporarily close all U.S. factories as the coronavirus sweeps across the country... Read more
Bernie Sanders Calls For Monthly $2,000 Payment To Every US Household During Coronavirus Crisis
Sanders also called for robust unemployment insurance, a moratorium on evictions and a waiver on all student loan paymen... Read more
Paid Leave, Unemployment Assistance: What The Federal Government Is Doing In Response To The Coronavirus Pandemic
Some of the biggest policy proposals so far include an announcement from Treasury Secretary Steve Mnuchin that the gover... Read more
'Hell Is Coming' — Bill Ackman Has Dire Warning For Trump, CEOs If Drastic Measures Aren't Taken Now
"America will end as we know it. I'm sorry to say so, unless we take this option," Ackman said. Read more
The Coronavirus Crisis Could Inflict Record-setting Damage On The US Jobs Market
The first wave of bad economic news directly related to the coronavirus crisis is likely to come from weekly jobless cla... Read more