The White House is not currently planning for a fourth emergency coronavirus response proposal as it focuses on implementing the unprecedented $2 trillion relief package passed last week, two senior administration officials told CNBC. Since President Donald Trump signed the bill into law Friday, House Democrats have started to outline their priorities for another piece […]
Tag: U.S. Economy
Man charged with billing for fraudulent test claims
Items from a COVID-19 test kit are displayed for a photograph. Michael Nagle | Bloomberg | Getty Images Federal prosecutors have criminally charged a Georgia man for allegedly conspiring to defraud federal and private health-care benefit programs “by submitting fraudulent testing claims” for coronavirus and genetic cancer screenings, authorities announced Monday. The man, 49-year-old Erik […]
House to vote on relief bill
The US Capitol is reflected in a standby ambulance on March 27, 2020, in Washington, DC. Alex Edelman | AFP | Getty Images House members are scrambling back to the Capitol on Friday morning as one member’s opposition to a $2 trillion coronavirus rescue package is set to delay its passage. With few representatives in […]
IMF chief Georgieva says the world is in a recession, containment will dictate strength of recovery
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), speaks in Washington, D.C., on Oct. 16, 2019. Andrew Harrer | Bloomberg | Getty Images This is a developing story. Check back for updates. International Monetary Fund chief Kristalina Georgieva said Friday that the global economy is now in a recession thanks to COVID-19, but […]
Senate, Fed coronavirus aid is greatest fiscal-monetary bazooka ever
Paul Tudor Jones Kevin Mazur | Getty Images Hedge fund manager Paul Tudor Jones said Thursday investors should commend Washington’s policy response to the economic shock from the coronavirus pandemic. “Investors can take heart that we’ve counteracted this existential shock with the greatest fiscal, monetary bazooka. It’s not even a bazooka. It’s more like a nuclear bomb,” […]
New York City weighs closing parks, playgrounds and streets to enforce social distancing, Gov. Cuomo says
New York Governor Andrew Cuomo speaks to the media at the Javits Convention Center which is being turned into a hospital to help fight coronavirus cases on March 24, 2020 in New York City. Eduardo Munoz Alvarez | Getty Images New York state and city officials plan to close some NYC streets may close parks […]
Here’s everything the government has done to limit the economic impact
The federal government is racing to ease the pain facing the U.S. economy as the coronavirus pandemic makes its swift pivot from public health crisis to financial catastrophe. The damage from COVID-19, the disease caused by the new virus, is unlike anything in modern times. Economists have warned the fallout could be similar to that […]
US coronavirus cases surpass 10,000, doubling in two days
The number of confirmed COVID-19 cases in the United States surpassed 10,000 on Thursday, doubling over two days as states ramp up testing and the new coronavirus sweeps across the country. New York Gov. Andrew Cuomo said Thursday morning that the state confirmed 1,769 new cases in the last day, bringing the number of confirmed […]
Next week jobless claims could hit 2 million on coronavirus
Next Thursday’s look at weekly new jobless claims may show a tenfold spike to 2 million as the full force of the coronavirus halt in the U.S. economy slams the labor market, economist Ian Shepherdson told CNBC. Shepherdson’s comments came ahead of this Thursday’s release of the Labor Department’s weekly report on jobless claims. The […]
edged higher as food costs rose
A customer browses products at a Walmart store in Burbank, California Patrick T. Fallon | Bloomberg | Getty Images U.S. consumer prices increased slightly last month, driven higher by more expensive food. The Labor Department said Wednesday that the consumer price index ticked up 0.1% last month, matching its January increase. Prices rose 2.3% compared […]