Americans displaced by the coronavirus crisis filed unemployment claims in record numbers last week, with the Labor Department reporting Thursday a surge to 3.28 million.The number shatters the Great Recession peak of 665,000 in March 2009 and the all-time mark of 695,000 in October 1982. The previous week,...
Paul Tudor JonesKevin Mazur | Getty ImagesHedge 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...
Former Federal Reserve Chairman Ben Bernanke sounded an optimistic tone on the longer-term state of the economy, predicting in a CNBC interview Wednesday that while the U.S. is facing an acute recession, it shouldn't last."It is possible there's going to be a very sharp, short, I hope short,...
Former Fed Chairman Ben Bernanke told CNBC on Wednesday the central bank has acted with appropriate force to help the U.S. economy get ahead of the coronavirus and set the stage for a strong rebound once the disease abates."I think the Fed has been extremely proactive and Jay...
Sen. Chris Coons on Wednesday put his full support behind the $2 trillion coronavirus relief package agreed to by the Senate and White House. "I think it was worth the day wait," the Delaware Democrat said on CNBC's "Squawk Box." "I'm really excited about this package and excited to get...
The White House and Senate leaders reached a deal early Wednesday on a massive $2 trillion relief bill — said to be the largest rescue package in American history — to combat the economic impact of the coronavirus outbreak.As of Wednesday morning, though, the Senate was still drafting the...
The White House is seeking a stimulus package worth anywhere from $850 billion to more than $1 trillion as the Trump administration looks to battle the economic impact from the coronavirus pandemic, according to a source familiar with the matter.Later Tuesday, Treasury Secretary Steven Mnuchin told GOP senators...
The more than $50 billion in government aid U.S. airlines are seeking as the coronavirus ravages their businesses must include worker and consumer protections, Democratic lawmakers and labor unions said Tuesday. They criticized airlines for spending years of windfall profits buying back their own stock."No blank check industry bailouts," tweeted...
The Federal Reserve is adding another weapon in its effort to make sure households and businesses get the funding they need as the economy deals with the coronavirus crisis.In the central bank's latest effort to keep credit markets flowing, the Fed announced a Primary Dealer Credit Facility, which...
Prospective buyers with their real estate agent survey the kitchen of a new home.Matthew Staver | Bloomberg | Getty ImagesA sudden spike in mortgage rates caused an abrupt end to the recent refinance boom, pushing total mortgage application volume down 8.4% last week from  the previous week, according...