Edition:
India

Ann Saphir

Egg salad and a basketball star provide one California cafe's coronavirus lifeline

2:28am IST

OAKLAND, Calif. Each day, employees at Farley's East cafe in Oakland, California fix about 200 turkey, ham and egg salad sandwich lunch plates to be distributed free to the homeless, hungry school-age kids, medical professionals at Covid-19 testing sites, and others in need. | Video

Fed revisits idea of pledging to keep interest rates low

02 Jul 2020

WASHINGTON Federal Reserve policymakers are looking at reviving a Great Recession-era promise to keep interest rates low until certain conditions are met, in a bid to deliver a more rapid recovery from the recession triggered by the coronavirus pandemic.

Fed deluged by letters from needy over U.S. loan program

02 Jul 2020

The U.S. Federal Reserve on Wednesday released thousands of letters and emails from individuals, businesses and nonprofit groups this spring urging wider access to its Main Street Lending Program for Americans slammed financially during the pandemic.

A cash cliff spells trouble for U.S. unemployed, and everyone else

29 Jun 2020

Judith Ramirez is bracing for July. That's when the hotel housekeeper and her electrician husband - who have both been out of work for three months - expect their combined unemployment benefits to drop by more than half, and their deferred $1,500 monthly mortgage payment on their Honolulu home to come due.

Fed's Evans: U.S. recovery to take years, outbreaks to slow growth

24 Jun 2020

Chicago Federal Reserve Bank President Charles Evans on Wednesday said he expects the U.S. economy to take until late in 2022 to recover to its pre-crisis level of output, with some economic growth permanently lost to the effects of the coronavirus pandemic.

Fed isn't fueling U.S. inequality, Daly says

23 Jun 2020

San Francisco Federal Reserve President Mary Daly on Tuesday defended the U.S. central bank from criticism that its easy monetary policy and emergency lending programs are doing more to help the rich than the poor.

Americans face new coronavirus challenge: a shortage of coins

18 Jun 2020

SAN FRANCISCO Banks across the United States are facing a shortage of coins during coronavirus crisis, prompting the U.S. Federal Reserve to ration distribution and work with the U.S. Mint to boost supply.

Fed's Powell beats drum for more government aid to bolster economy

18 Jun 2020

The U.S. economy is beginning to recover from the worst of the coronavirus crisis, but with some 25 million Americans displaced from work and the pandemic ongoing, it will need more help, Federal Reserve Chair Jerome Powell told lawmakers on Wednesday.

Americans face new coronavirus challenge: a shortage of coins

18 Jun 2020

SAN FRANCISCO Banks across the United States are facing a shortage of coins during coronavirus crisis, prompting the U.S. Federal Reserve to ration distribution and work with the U.S. Mint to boost supply.

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