Oct 21 The U.S. economy continued to recover at a slight to modest pace through early October as consumers bought homes and increased spending, but the picture varied greatly from sector to sector, the Federal Reserve said on Wednesday.
Despite a "heartening" bounceback from the initial hit to the U.S. economy delivered by the COVID-19 pandemic, the recovery is uneven and uncertain and will require continued support to ensure it becomes broadbased and sustainable, Federal Reserve Governor Lael Brainard said on Wednesday.
Democratic consumers gained ground on their Republican counterparts in their assessment of the economic outlook in early October as the race for the White House that appears increasingly to favor their candidate enters its final stretch.
U.S. consumers on balance paid only a little bit more for goods and services last month as supply chain disruptions that contributed to a bump up in inflation over the summer began to ease, a welcome respite for the millions who remain unemployed.
A likely absence of more federal aid for households and businesses this year and the extensive build up of corporate debt will weigh on the U.S. economic recovery from the recession triggered by the COVID-19 pandemic, the head of the Federal Reserve Bank of Boston said on Thursday.
The number of Americans filing new claims for jobless benefits inched down last week, signaling the U.S. labor market is making little fresh headway in getting millions of people back on the job after being out of work due to COVID-19 disruptions.
The gap in unemployment rates between Blacks and whites in the United States narrowed for the first time in five months in September, although largely for the wrong reasons.
The gap in unemployment rates between Blacks and whites in the United States narrowed for the first time in five months in September, although largely for the wrong reasons.
Top U.S. economic policymakers opened the door on Tuesday to further aid for small businesses hit by the coronavirus-triggered recession, but differed over how broad it might extend and the manner in which it should be delivered. | Video
Sept 22 U.S. Federal Reserve Chair Jerome Powell on Tuesday makes the first of three appearances on Capitol Hill this week to address lawmakers' questions and concerns about the raft of emergency measures the central bank has taken to blunt the hit to the economy delivered by the coronavirus pandemic.
President Donald Trump questioned the integrity of the U.S. election again on Tuesday, saying it would be "inappropriate" to take extra time to count the tens of millions of ballots cast by mail in his race against Democrat Joe Biden.