The Federal Reserve will have to support the economy because the recovery from the coronavirus pandemic “will be slow,” a top official at the central bank said Friday. “There’s more pain we need to support the economy,” Loretta Mester, president of the Cleveland Fed, told CNBC’s Steve Liesman during an …
Read More »
WASHINGTON (AP) – Just over 1 million Americans applied for unemployment benefits last week, a sign that the outbreak of the coronavirus continues to threaten jobs, as well as the housing market, car sales and other segments of the economy recover from a spring collapse . The Labor Department reported …
Read More »
The U.S. economy shrank in April-June with an alarming annual rate of 31.7% as it struggled under the weight of the viral pandemic, the government estimated Thursday. It was the sharpest four-year drop on record. The Department of Commerce downgraded its previous estimate of U.S. gross domestic product last quarter, …
Read More »
This pandemic has clashed with things in ways we could never have imagined, Jim Cramer told his viewers of Mad Money on Thursday. Some of those collisions are good, while others are not, Cramer said. Therefore, he continued to recommend a barbell portfolio that includes both COVID-19 winners and recovery …
Read More »