U.S. gross domestic product fell at annual rate of 32.9% in second quarter as states shut down nonessential businesses and consumers largely stayed home.
Author: Paul Davidson, USA TODAY
With coronavirus surging, Fed keeps key interest rate near zero, vows more support
With COVID-19 resurgent across much of U.S., the Fed held interest rates near zero and vowed more support for economy. It noted pickup in jobs and economy.
2nd-quarter GDP out Thursday morning: “Really, you’re going to see just godawful numbers just across the board.”
U.S. economic output likely fell at record 35% annual rate in the second quarter. The rebound is threatened by COVID-19 spikes, state reclosings.
Amid COVID-19 spikes, reopening rollbacks, Fed could signal near-zero rates for even longer
Amid coronavirus spikes, the Fed Wednesday could signal it intends to keep interest rates near zero even longer and juice its bond buying stimulus
Americans have downsized their views of what it takes to be rich and financially comfortable
Since the COVID-19 crisis began, Americans have downsized their views of how much it takes to be wealthy and financially comfortable, a survey shows.
‘It’s really devastating us’: Beach towns fear they won’t survive a summer of COVID-19
Retailers everywhere are fighting to survive the challenges of COVID-19. But few merchants are under fire like those in America’s beach towns.
Work from home: More companies are letting new hires work anywhere permanently amid COVID-19 pandemic
More companies are seeking out job candidates across the U.S. and letting them work remotely. The trend is creating bigger pools of top applicants.
Layoffs: 1.3M workers file for unemployment as COVID-19 surges, pushing total in crisis above 51M
Another 1.3M workers filed Initial jobless claims as COVID-19 cases spiked in much of the U.S. and more than 20 states paused or rolled back reopenings
Will the remote work craze sparked by COVID-19 sound a death knell for office buildings?
As many Americans continue to work from home even after the coronavirus pandemic fades, the office market could shrink substantially.
After big job gains in June, many economists expect a slowdown amid rising coronavirus cases
After breakout job gain, many economists expect slowdown amid a rise in coronavirus infections and more layoffs as firms run out of government aid.