Breaking News: Politics
Fed's Eric Rosengren Says The Central Bank 'acted Quickly' But Congress Will Need To Do More
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The Boston Fed president still expects big hits from coronavirus on the economy, particularly employment. Read more
Jobless Claims Soar Past 3 Million To Record High
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The number shatters the Great Recession peak of 665,000 in March 2009 and the all-time mark of 695,000 in October 1982. Read more
House Unlikely To Vote On Historic $2 Trillion Coronavirus Stimulus Bill Wednesday
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Majority Leader Mitch McConnell said the Senate will pass the legislation later Wednesday. The full text of the bill has... Read more
Coronavirus Stimulus Bill Fails In Key Senate Procedural Vote
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Democratic leaders warned that the bill did too much to bail out companies and not enough to help workers. Read more
The Federal Reserve Just Pledged Asset Purchases With No Limit To Support Markets
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The Federal Reserve launched a barrage of programs aimed at helping markets function more efficiently amid the coronavir... Read more
Weekly Jobless Claims Jump To 281,000 Ahead Of Surge In Coronavirus Layoffs
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Jobless claims rose to 281,000 last week, reflecting only the first indications of the impact the coronavirus will have ... Read more
President Trump Signs Coronavirus Relief Plan To Expand Paid Leave
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President Donald Trump on Wednesday signed a $100 billion coronavirus aid package into law which includes provisions for... Read more
The Federal Reserve Is Adding Another Program To Keep Money Flowing For Big Financial Institutions
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In the central bank's latest effort to keep credit markets flowing, the Fed announced a Primary Dealer Credit Facility, ... Read more
Trump Seeks Stimulus Package Potentially Worth More Than $1 Trillion, Including Direct Payments To Americans
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The White House is seeking a stimulus package worth anywhere from $850 billion to over $1 trillion in a bid to battle th... Read more
Fed Will Help Businesses Get Up To $1 Trillion In Funding In The Short-term Borrowing Markets Amid Coronavirus Crisis
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In a move much anticipated on Wall Street, the bank announced a special credit facility to purchase corporate paper. Read more
Trump Says GDP Would Be Near 4% And The Dow Could Be 10,000 Points Higher If It Weren't For The Fed
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The president has repeatedly taken the Fed and Chair Jerome Powell to task for aggressively raising rates. Read more
US Budget Deficit Topped $1 Trillion In 2019 For The First Time In Seven Years
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The budget shortfall hit $1.02 trillion for the year, a 17.1% increase from 2018, which itself had seen a 28.2% jump fro... Read more
US Trade Deficit Falls More Than Expected To Hit Lowest Level Since Trump Took Office
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The U.S. trade deficit fell more than expected in November ahead of negotiations with China that cooled the simmering ta... Read more
Fed's Brainard Argues For Capping Interest Rate Levels During The Next Downturn
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Brainard suggested using Treasury purchases to limit how high short- and medium-term government bond yields can rise. Read more
Market May Be Expecting More Rate Cuts Than The Fed Will Deliver, Meeting Minutes Show
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The Fed's meeting minutes also showed that the trade war dragging down the economy was an overriding concern. Read more
Powell Says The Fed Will Start Expanding Its Balance Sheet 'soon' In Response To Funding Issues
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On monetary policy more broadly, Powell stuck to his recent script, saying the Fed stands committed to supporting the re... Read more
The Father Of The Yield Curve Indicator Says Now Is The Time To Prepare For A Recession
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Campbell Harvey has led work in research on inverted curves, which have presaged seven straight recessions. Read more
Trade Gap Widens More Than Expected To $54.9 Billion
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The U.S. trade deficit widened more than expected thanks in part to a record level of imports of consumer goods. More ta... Read more
September Unemployment Rate Falls To 3.5%, A 50-year Low, As Payrolls Rise By 136,000
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The jobless rate dropped 0.2 percentage points to 3.5%, matching a level it last saw in December 1969. Read more
Odds Are Increasing The Jobs Report Could Disappoint After Weak Numbers Earlier In The Week
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Economists surveyed by Dow Jones expect nonfarm payrolls increased by 145,000 in September. Read more