Millions of Americans already have lost their jobs due to the coronavirus crisis — and the worst of the damage is yet to come, according to a Federal Reserve estimate. Economists at the Fed’s St. Louis district project total employment reductions of 47 million, which would translate to a 32.1 percent unemployment rate, according to […]
WASHINGTON — Trump administration officials warned Senate Republicans on Tuesday that the coronavirus outbreak in the United States could cause the unemployment rate to reach 20 percent, according to two sources familiar with the discussion. The warning came during a...
The U.S. will not see unemployment levels of 20 percent, Treasury Secretary Steven Mnuchin clarified Wednesday, just one day after issuing a stark warning about the economic effects of the coronavirus if Congress did not agree on the White House stimulus package....
Wall Street recorded historic losses Thursday as fears intensified over the economic fallout from the coronavirus pandemic amid what some saw as an anemic response from the White House. The Dow Jones Industrial Average fell by 10 percent, with the Nasdaq and the...
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