Federal Reserve Bank of St. Louis President James Bullard the U.S. labor market is likely to bounce back quickly when more temporarily furloughed workers return to jobs and the coronavirus pandemic comes under control.
The deficit at the end of fiscal 2020 equaled 15% of the U.S. economy, a huge gap that was the largest since the government undertook massive borrowing to finance the final year of World War II.
There appears to be a new sense of urgency from the White House and some congressional Republicans to reach some sort of agreement amid signs the economic recovery is weakening.
The solid economic recovery under way could falter without continued financial support from the government, Fed Chair Jerome Powell said Tuesday.
While the pandemic has devastated Indiana’s tourism and hospitality industries, the picture is decidedly mixed for manufacturing—which constitutes more than a quarter of the state’s gross domestic product.
Consumer confidence is closely watched for signals about consumer spending, which accounts for 70% of economic activity in the United States.
Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding, but stressed that major sectors of the economy were still suffering.
The U.S. economy has a long way to go before regaining the strong health it enjoyed before the coronavirus paralyzed the country in March.
The uptick was about twice what economists expected. But inflation remains in check: Consumer prices are up just 1% over the past year.
Over the past two months, congressional approval ratings have crashed downward, after a sudden previous bump in approval. Fewer than 1 in 5 voters say they like what lawmakers are doing on Capitol Hill, according to the Gallup Poll.
A huge plunge in consumer spending as people stayed home in the April-June quarter likely sent the economy into a tailspin at a roughly 32% annual rate
Some economists said the June rise in prices would ease concerns that the country could be in danger of slipping into a destabilizing period of deflation, something not seen in the United States since the Great Depression.
IBJ reporters Samm Quinn and Anthony Schoettle spent a week talking with the leaders of downtown companies and learned that many are delaying plans to bring workers back to the office.
In Indiana, more than 90% of federal loans topping $150,000 went to companies, according to the Treasury Department data. About 6% of the loans went to not-for-profit organizations.
The child-care crunch triggered by the pandemic has rapidly become a crisis for many workers and companies that is hindering the economic recovery, disproportionately harming women, and threatening to leave deep scars for years to come.
The field of economics is facing an upheaval, with African American scholars decrying bias in the profession and presenting evidence that leading journals have failed to publish sufficient research that documents racial inequalities.
Food costs have been rising due to high demand from Americans cooking more at home, but also because of lost production following virus outbreaks at food-processing facilities.
In all, the department store chain—which filed for bankruptcy protection last month—is closing nine locations in Indiana.
Netlogx has been working to help clients navigate the difficulties of the pandemic. And one of its key pieces of advice to business leaders is to keep a crisis journal. And to do it every day because the situation and information has been changing so quickly.
Stage 3 of the governor’s roadmap, scheduled to start Sunday, is set to increase the social gathering limit from 25 people to 100, allow retailers to go from operating at 50% capacity to 75% capacity, let fitness centers reopen and allow movie theaters to open at 50% capacity.
