Edition:
United Kingdom

Jonnelle Marte

Fed's Clarida says U.S. economic recovery has a 'long way to go'

19 Oct 2020

The U.S. economy is rebounding strongly after taking a big hit because of the coronavirus pandemic, but it may be another year before the economy returns to pre-crisis levels and take even longer for the labor market to recoup lost ground, Federal Reserve Vice Chair Richard Clarida said on Monday.

Strong retail sales boost optimism before U.S. election, but it may be short lived

16 Oct 2020

In an ordinary presidential election, Friday's retail sales report would have been a dream for an incumbent like Republican President Donald Trump. Headline sales topped expectations by a wide margin and spending was up from August in all but one of the major categories.

RPT-Spending dropped, savings dwindled for U.S. unemployed after enhanced benefits expired - study

16 Oct 2020

Oct 16 Jobless Americans who received enhanced unemployment benefits during the pandemic were able to boost spending and pad up their savings for a time. But the majority of those savings were spent quickly after emergency benefits expired, a study released on Friday found, suggesting many of the unemployed may need more financial help soon.

Spending dropped, savings dwindled for U.S. unemployed after enhanced benefits expired: study

16 Oct 2020

Jobless Americans who received enhanced unemployment benefits during the pandemic were able to boost spending and pad up their savings for a time. But the majority of those savings were spent quickly after emergency benefits expired, a study released on Friday found, suggesting many of the unemployed may need more financial help soon.

Fed's Kashkari: Recovery will be grinding and slow without more stimulus

15 Oct 2020

The U.S. economic recovery will slow down if unemployed Americans and struggling businesses do not receive more assistance, Minneapolis Federal Reserve President Neel Kashkari said on Thursday.

Fed's Kaplan says disadvantaged Americans need help getting back to work

15 Oct 2020

Women and minorities, who have been affected by pandemic-related job losses, will need help getting back to work as more economic activity shifts to sectors less dependant on face-to-face interaction, Dallas Federal Reserve President Robert Kaplan said on Wednesday.

NY Fed's Logan: Fed moved quickly to address market dislocations in spring

14 Oct 2020

The Federal Reserve moved quickly last March to address broad-based selling of Treasury securities and other assets that caused notable dislocations in markets, and it stands ready to respond to other issues that may arise, a senior New York Fed official said on Wednesday.

As U.S. job growth stalls, some workers face long-term unemployment

06 Oct 2020

More than six months after the pandemic ravaged the U.S. labor market, millions of Americans who are still unemployed are bracing for the possibility that the jobs they held before the crisis may not come back for years, if at all.

World News