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Coronavirus-triggered layoffs in U.S. hit nearly 39 million

By CHRISTOPHER RUGABER and DANICA KIRKA WASHINGTON — The number of Americans thrown out of work since the coronavirus crisis struck two months ago has climbed to nearly 39 million, the government said Thursday. More than 2.4 million people applied for unemployment benefits last week in the latest wave of layoffs from the outbreak that has triggered nationwide business shutdowns and brought the economy to its knees, the Labor Department reported. That brings the running total to a staggering 38.6...
Tags: Europe, Colorado, Washington, France, China, Spain, Sport, Bbc, Beijing, Soccer, Xi Jinping, Bangladesh, Astrazeneca, Lausd, University of Oxford, Pascal Soriot


Has the Oracle of Omaha lost his edge?

If you spent much of Tuesday, as many of us at CNN Business did, gazing into the eyes of Jerome Powell and Steve Mnuchin as they faced a grilling by the the Senate Banking Committee, here are some other headlines you might have missed in the world of business and finance. 
Tags: News, Cnn, Stories, Omaha, Jerome Powell, Senate Banking Committee, Steve Mnuchin


Mnuchin and Powell push differing priorities to aid economy

Facing the gravest U.S. economic crisis in decades, Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell offered Congress contrasting views Tuesday of what the government's most urgent priority should be.
Tags: Congress, Treasury, Powell, Federal Reserve Chair, Jerome Powell, Mnuchin, Steven Mnuchin


'Worse than any recession since World War II': Mnuchin, Powell grilled on coronavirus response

Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell faced an array of questions from senators on the response to the pandemic.         [Author: USA TODAY]
Tags: Usa, News, Treasury, Usa Today, Federal Reserve Chair, Jerome Powell, Steven Mnuchin, Mnuchin Powell


5 takeaways from first Senate hearing on the coronavirus relief bill

Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell were front-and-center Tuesday at the first Senate hearing on how the $2.2 trillion coronavirus rescue package is being implemented.
Tags: News, Senate, Stories, Treasury, Federal Reserve, Jerome Powell, Steven Mnuchin


5 takeaways from the first Senate hearing on the coronavirus relief bill

Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell were front-and-center Tuesday at the first Senate hearing on how the $2.2 trillion coronavirus rescue package is being implemented.
Tags: Senate, Cnn, Treasury, Federal Reserve, Jerome Powell, Steven Mnuchin


New lending programs for bigger companies to launch by June 1

By Christopher Rugaber and Martin Crutsinger, The Associated Press Federal Reserve Chair Jerome Powell said Tuesday that the Fed’s lending programs for medium-sized businesses and state and local governments would begin operating by the end of this month. Powell said that while the Fed has received a “good deal of interest” in those programs if not enough companies or state and local governments seek to borrow the Fed would consider changes to them. That could include expanding their eligibility...
Tags: Congress, Sport, Soccer, Treasury, Warren, Ohio, Trump, Fed, Brown, Powell, SBA, Sen Elizabeth Warren D Mass, Sen Sherrod Brown, Jerome Powell, MARTIN CRUTSINGER, Senator


Oil Prices for May 19, 2020 - Bloomberg

Oil Prices for May 19, 2020 - Bloomberg:Oil gained in a day of choppy trading as investors weighed supply cuts and a demand rebound against an ominous economic outlook from the Federal Reserve.West Texas Intermediate crude for July delivery rose 1%. Output cuts by the world’s largest producers are whittling down a supply glut while oil consumption is recovering as economies around the globe emerge from lockdowns. Citigroup Inc. said the oil surplus weighing on the market in the second quarter is...
Tags: Travel, Senate, Bloomberg, Treasury, Citigroup Inc, Federal Reserve Chair, Jerome Powell, Peter McNally, Rupert Neil Bumfrey, Steven Mnuchin, Third Bridge


Fed's Powell says new lending programs to launch by June 1

Federal Reserve Chair Jerome Powell said Tuesday that the Fed's lending programs for medium-sized businesses and state and local governments would begin operating by the end of this month.
Tags: Fed, Powell, Federal Reserve Chair, Jerome Powell


See the testy exchange between senator and Mnuchin

Hear the testy exchange between Senator Sherrod Brown, Federal Reserve Chairman Jerome Powell and Secretary Steve Mnuchin on the eagerness of the Trump administration to send employees back to work during the coronavirus pandemic.
Tags: News, Stories, Trump, Jerome Powell, Mnuchin, Steve Mnuchin, Senator Sherrod Brown Federal Reserve


Fed, Treasury chiefs face heat over uneven U.S. coronavirus response

Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin found themselves in the hot seat on Tuesday as U.S. lawmakers grilled them about the uneven nature of the fiscal response to the fallout from the coronavirus pandemic.
Tags: Money, businessNews, Treasury, Federal Reserve Chair, Jerome Powell, Steven Mnuchin, Fed Treasury


See the heated exchange between senator and Mnuchin

Hear the testy exchange between Senator Sherrod Brown, Federal Reserve Chairman Jerome Powell and Secretary Steve Mnuchin on the eagerness of the Trump administration to send employees back to work during the coronavirus pandemic.
Tags: News, Stories, Trump, Jerome Powell, Mnuchin, Steve Mnuchin, Senator Sherrod Brown Federal Reserve


Main Street loan program likely to be ready by end of month, Fed chairman tells senators

The program to lend billions of dollars to small- and mid-sized businesses should be ready to launch by the end of the month, Federal Reserve Chairman Jerome Powell said Tuesday, amid complaints the money has been too slow to reach the public.
Tags: Cnn, Federal Reserve, Fed, Jerome Powell


Coronavirus US live: Trump claims to take hydroxychloroquine and threatens to withdraw US from WHO

Trump says he’s taking hydroxychloroquine despite FDA warningsStrikes erupt as US essential workers demand protection amid pandemicCoronavirus – latest global updatesGet a fresh perspective on America – sign up to our First Thing newsletter 1.32pm BST In Congress, the Senate banking, housing and urban affairs committee will today hear from treasury secretary Steven Mnuchin and Federal Reserve chairman Jerome Powell, about federal stimulus efforts for the cratering US economy.Short version: P...
Tags: New York, California, Senate, US, America, Barack Obama, Joe Biden, US news, US politics, House, World Health Organization, Fox News, Fda, Nancy Pelosi, Federal Reserve, Andrew Cuomo


Treasury Secretary Mnuchin, Fed Chairman Powell to face Senate grilling on stimulus programs

Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin will give their first report on the economic stimulus programs implemented by the $2.2 trillion CARES Act when they testify before the Senate Banking Committee on Tuesday.
Tags: Senate, Cnn, Treasury, Federal Reserve, Jerome Powell, Senate Banking Committee, Steven Mnuchin, Mnuchin Fed Chairman Powell


Mnuchin's testimony, Missouri execution, NFL's reopening plans: 5 things to know Tuesday

Steven Mnuchin and Jerome Powell will give virtual testimony, the pause in U.S. executions is likely to end and more news you need to know Tuesday.         [Author: USA TODAY]
Tags: Usa, News, NFL, Missouri, Usa Today, Jerome Powell, Mnuchin, Steven Mnuchin


Treasury Secretary Mnuchin, Fed Chairman to face Senate grilling

Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin will give their first report on the economic stimulus programs implemented by the $2.2 trillion CARES Act when they testify before the Senate Banking Committee on Tuesday.
Tags: News, Senate, Stories, Treasury, Federal Reserve, Jerome Powell, Senate Banking Committee, Steven Mnuchin, Mnuchin Fed Chairman


Fed Chair Powell testifies, Walmart, Home Depot, Kohl's report earnings: What to know in markets Tuesday

The spotlight Tuesday will be on earnings from retail heavyweights Walmart, Home Depot and Kohl’s and Federal Reserve Chairman Jerome Powell’s testimony on Capitol Hill.
Tags: Business, News, Federal Reserve, Kohl, Powell, Jerome Powell, Walmart Home Depot, Walmart Home Depot Kohl


‘He’s got to instill a sense of urgency’: Fed chair Jerome Powell expected to bring spend-more message to Congress

The trick for Federal Reserve Chairman Jerome Powell will be to make his case for more spending delicately, not overstepping his role as an unelected central banker and not appearing to take sides in the partisan battle over how much more Washington should do.
Tags: Congress, Washington, Federal Reserve, Fed, Jerome Powell


Stocks soar amid coronavirus vaccine hopes

U.S. equity markets gained Monday as Fed Chairman Jerome Powell said the central bank would continue to provide support and after drugmaker Moderna announces positive Phase 1 trial results.
Tags: Finance, Article, Fed, FBN, Jerome Powell, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/us-markets, Moderna, Jonathan Garber, Fox-business/topic/coronavirus, 4e73e82a-9afa-5884-903c-94aacecb6dec


The recovery from coronavirus could take years

Jerome Powell, the chair of the US Federal Reserve, delivered some straight talk to the American people on last night's episode of "60 Minutes."
Tags: Cnn, Us Federal Reserve, Jerome Powell


Fed Chair Says Economy Might Not Fully Recover Until End Of 2021

"You really can’t put into words the pain people are feeling," Chairman Jerome Powell told "60 Minutes."
Tags: News, Jerome Powell


Global report: US unemployment could hit 25%, warns Fed chairman, as Japan enters recession

India extends Covid-19 lockdown but eases many restrictions; South Africa reports highest daily new cases; World Health Assembly to beginCoronavirus – latest updatesSee all our coronavirus coverageUnemployment in the United States could peak at 25% as a result of the coronavirus pandemic, according to the chair of the Federal Reserve, amid warnings the June quarter economic figures will be “very, very bad”. The bleak prediction came as Japan slid into its first recession in five years, with fore...
Tags: Japan, India, US, World news, US news, United States, South Africa, Infectious Diseases, Federal Reserve, Lebanon, Fed, Jerome Powell, World Health Assembly, Coronavirus outbreak


Fed's Powell: 'Medical metrics' most important data for U.S. economy now - CBS

The most important data for the U.S. economy right now are the "medical metrics" around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks where he outlined the likely need for three to six more months of government financial help for firms and families.
Tags: Money, businessNews, Cbs, Federal Reserve, Fed, Powell, Jerome Powell


Powell: Recovery May Begin By Summer, Will Likely Be Slow

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell expressed optimism Sunday that the U.S. economy can begin to recover from a devastating recession in the second half of the year, assuming the coronavirus doesn’t erupt in a second wave. But he suggested that a full recovery won’t likely be possible before the arrival of a vaccine. In an interview with CBS’s “60 Minutes,” Powell noted that the economy was fundamentally healthy before the virus struck suddenly and forced widespread business...
Tags: News, Congress, Washington, Ap, Cbs, Federal Reserve, Donald Trump, Fed, Powell, Federal Reserve Chair, Jerome Powell, Treasurys, Nicole Lafond, COVID-19, CBS Powell


US GDP could 'easily' contract 20-30% Q2: Fed's Powell

The business shutdowns caused by the coronavirus pandemic could "easily" cause the US economy to collapse by 20 to 30 percent this quarter, Federal Reserve Chair Jerome Powell said Sunday. While unemployment could peak at 20 to 25 percent, a level not seen since the 1930s, Powell said he remains confident the country will avoid another depression. Beyond the dismal figures, "what we're really looking at is getting the medical data," he said, which is critical to determining when economic activ...
Tags: News, US, Fed, Powell, Federal Reserve Chair, Jerome Powell


Don't bet against America, says Fed chief on '60 Minutes'

The US economy is going through an unprecedented recession and a recovery will take time. Even so, you don't want to bet against America's economy, said Federal Reserve Chairman Jerome Powell on CBS' News '60 Minutes' Sunday night.
Tags: Cbs News, US, America, Cnn, Federal Reserve, Fed, Don, Jerome Powell


Coronavirus: Fed chairman Powell warns downturn 'may last until late 2021'

Federal Reserve Chairman Jerome Powell also warned the economic downturn "may last until late 2021".
Tags: News, Federal Reserve, Fed, Powell, Jerome Powell


Fed's Powell: GDP could sink by 30% in second quarter, may turn positive in third quarter

In a "60 Minutes" interview with Scott Pelley on Sunday, Federal Reserve Chairman Jerome Powell predicted the economy would "decline substantially" in the second quarter, as much as four times compared to the previous year. 
Tags: Finance, Article, Fed, Powell, FBN, Jerome Powell, Scott Pelley, Fbn/markets, FOXBusiness, Fox-business/markets/us-markets, Fox-business/politics/the-fed, Fox-business/economic-indicators/us-economy, Lucas Manfredi, Fox-business/person/jerome-powell, Fox-business/topic/coronavirus, 2abb7fad-8164-5ece-9e48-b0fdb8c5a237


Fed chairman Powell warns downturn 'may last until late 2021'

Federal Reserve Chairman Jerome Powell said a full rebound may not be possible until a vaccine is made.
Tags: News, Federal Reserve, Fed, Powell, Jerome Powell