Edition:
India

Jonnelle Marte

NY Fed's Williams says it's hard to know what shape U.S. economic recovery will take

21 May 2020

NEW YORK U.S. economic data is likely to become grimmer as the effects of the coronavirus pandemic become clearer, and it is difficult to know what the recovery could look like, New York Federal Reserve Bank President John Williams said Thursday.

Fed's Rosengren says U.S. unemployment rate could remain at double-digit levels by end of year

20 May 2020

U.S. businesses will face weak demand as long as consumers and workers are worried about public health, and the unemployment rate is likely to still be in the double digits at the end of the year, Boston Federal Reserve Bank President Eric Rosengren said Tuesday.

Lower-income workers hit harder by coronavirus job losses, Fed survey finds

14 May 2020

The coronavirus crisis drove a dramatic weakening in American households' finances as millions of people lost work or had their hours or pay reduced, with low-wage workers taking the biggest hit, according to a report released by the Federal Reserve on Thursday.

Fed: Lower-income workers and less educated facing more job losses caused by coronavirus

14 May 2020

May 14 The coronavirus crisis led to dramatic changes in Americans' finances as millions of workers faced layoffs or other cutbacks in their jobs, with low-wage workers taking the biggest hit, according to a report released by the Federal Reserve on Thursday.

Fed's Mester sees virus testing, treatments vital to economic recovery

13 May 2020

More progress needs to be made on testing and treatments to control the coronavirus outbreak before people can feel safe and the U.S. economy can return to growth in the second half of the year, Cleveland Federal Reserve Bank President Loretta Mester said on Tuesday.

Fed's Harker says opening economy too soon risks second wave of coronavirus

12 May 2020

The U.S. economy's recovery from the coronavirus crisis will likely be uneven and could be reversed if businesses open too soon and lead to a second wave of infections, Philadelphia Federal Reserve Bank President Patrick Harker said Tuesday.

Fed's Harker says opening economy too soon risks second wave of virus

12 May 2020

May 12 The U.S. economy's recovery from the coronavirus crisis will likely be uneven and could be reversed if businesses open too soon and lead to a second wave of infections, Philadelphia Federal Reserve Bank President Patrick Harker said Tuesday.

UPDATE 1-Federal Reserve will begin purchasing exchange-traded funds on Tuesday

12 May 2020

NEW YORK, May 11 The Federal Reserve will start purchasing shares of exchange-traded funds that invest in bonds on Tuesday through its Secondary Market Corporate Credit Facility, the central bank announced on Monday evening.

U.S. consumers' expectations deteriorated sharply in April: New York Fed Survey

11 May 2020

May 11 In a month when Americans in most states were being asked to stay home because of the coronavirus pandemic, U.S. consumers became more fearful about losing their jobs and more pessimistic about their ability to access credit or pay their bills, according to a survey released on Monday by the New York Federal Reserve.

Working women, and especially single moms, are hit hard by coronavirus downturn

08 May 2020

Before she was laid off from her bartending job in Charleston, South Carolina, Shana Swain used to spend her nights serving food and mixing Manhattans and Cosmopolitans.

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