Nearly Half of US Small Businesses Could Shut Down in 6 Months
U.S. small business owners have been especially hard hit by the shutdowns forced by the coronavirus outbreak. Nearly half may have to close permanently in the next six months.
Economy
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Can the US Handle -26.5% GDP and 12% Unemployment for Second Quarter of 2020?
It should now be little or no surprise that the United States is in a recession, and it should not be a surprise that the forecasters are calling for a "contractionary state" for the…
100% of Major Economist Group Say US Is in Recession
Not a large fraction, or even a majority. 100% of the economists at the widely regarded NABE (National Association of Business Economists) say the U.S. is already in a recession–a very rare consensus. The…
How the Federal Reserve’s Junk Bond Purchases Will Actually Work
Unprecedented times call for unprecedented actions. The Federal Reserve, Treasury and even politicians in America have managed to forge together bailout and rescue packages to fight the COVID-19 pandemic-induced recession that goes above and…
IMF Chief Says Coronavirus Pandemic to Cause Worst Recession Since 1929
IMF managing director Kristalina Georgieva said Thursday that the developed nations of the world need to step up to help emerging and developing economies survive and recover from the coronavirus pandemic.
Should the Stock Market Already Have Recovered Half of Its COVID-19 Recession Losses?
It was a difficult mental and physical transition to move from an 11 year raging bull market to an instant recession and bear market in 2020. The stock market has to lose 10% for…
Major Credit Agency Forecasts ‘Deep Global Recession’
Credit rating agency Fitch Ratings has updated its global economic forecast and now expects the coronavirus pandemic to cause a global recession this year as economic activity tumbles by nearly 2%.
ISM Shows US Manufacturing Held Up Better Than Expected in March
With a recession all but certain in the coming economic reports, it's hard to get excited about some of the economic reports that would have included data ahead of the mass layoffs and furloughs.
Consumer Confidence Declines Taper Off as FDA OKs Emergency Drugs
U.S. consumer confidence continues to decline, but the slide has slowed. On Sunday, the FDA and the Department of Health and Human Services okayed two drugs for use in the fight against COVID-19.
US Consumer Sentiment Plunged in March on COVID-19 Fears
Consumer sentiment in March declined by nearly 12% compared with February, the fourth-largest drop in nearly 50 years in the index maintained by the University of Michigan.
Consumer Confidence Still Falling, but Not as Fast
Consumer confidence fell again overnight, but the steepness of the drop has tapered off.
Weekly Jobless Claims Top 3.2 Million, and the Bad News Has Only Just Started
It was no secret that the number of jobless claims was going to be bad as the COVID-19 delivered an instant recession to the global economy.
Beyond the Federal Reserve, Negative Interest Rates Have Arrived in America
The interest rate climate was supposed to be stable for 2020. That all ended in an instant recession brought on by the coronavirus outbreak and after the situation was magnified after an oil share…
Where Investors Think the $2 Trillion Stimulus Will Be Spent
Congressional negotiators have struck a deal with the Trump administration on a $2 trillion stimulus package to offset some of the impacts of the coronavirus pandemic. Investors are finding winners and losers among America's…
Consumer Confidence Still Sliding as Washington Negotiates
Consumer sentiment dropped again in Morning Consult's daily reading published Tuesday morning. Negotiations between the U.S. House and Senate could lead to agreement on a massive stimulus program by the end of the day.