Economy

Indian Economy Shrinks By 24% As The Country Sees Its Highest Coronavirus Numbers

4:26pm August 31, 2020

by Lauren Frayer

"This year, we are facing an extraordinary situation," Indian Finance Minister Nirmala Sitharaman told a conference last week before GDP figures were released. "We are facing an act of God."

Flaviane da Conceição, 40, a self-employed house cleaner, poses for a photo at her home in the Cidade de Deus favela on July 29 in Rio de Janeiro, Brazil. A single mother of three, she applied for government emergency aid at the beginning of the coronav

Coronavirus-Hit Brazil Considers Major Public Funds For Poor And Unemployed

2:19pm August 31, 2020

by Catherine Osborn

Pandemic emergency aid gave an unlikely ratings boost to President Jair Bolsonaro, who has criticized welfare and protested virus prevention measures. Now he's weighing further social spending.

Retired postal worker Glenda Morris protests postal cutbacks on Aug. 25, 2020, in New York. African Americans make up 27 percent of the Postal Service, about twice their share of the overall workforce.

Black Americans Worry Postal Changes Could Disrupt History Of Secure Jobs

9:03am August 31, 2020

by Jeff Brady

Starting with a special law after the Civil War, the U.S. Postal Service has provided a path to the middle class for generations of African Americans. Some worry a privatization push threatens that.

Farmers check coffee beans handpicked at their farm located in Forquilha do Rio, municipality of Dores do Rio Preto, Espirito Santo, Brazil.

Coffee Keeps Its Mojo: Producers Overcome Pandemic Obstacles

5:40pm August 30, 2020

by Jason Beaubien

Coffee has remained widely available on supermarket shelves even though COVID-19 has been particularly bad in some of the world's largest coffee-growing nations.

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'NYT' Reporter Discusses Economic Influence In 2020 Election

5:33pm August 30, 2020

NPR's Michel Martin speaks with New York Times economics reporter Jim Tankersley about the role the economy is playing in the 2020 election and his new book, The Riches of This Land.

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People eat in an outdoor dining area in New York City's Chinatown on Aug. 10. Economists warn spending may suffer this month.

Economy

Rebound In Consumer Spending Fades In July

3:56pm August 28, 2020

by Scott Horsley

Consumer spending rose 1.9% last month — but the rebound slowed from May and June. Unemployment benefits continued to prop up spending in July, but that may change in August.

Caroline Wells and her family at their new home outside San Antonio. The builders just finished it so the yard has yet to be planted, but the couple are looking forward to letting the kids run out their energy with a lot more outdoor space than they had a

More Space, Please: Home Sales Booming Despite Pandemic, Recession

3:55pm August 28, 2020

by Chris Arnold

Despite high unemployment, a severe recession and economic uncertainty, the housing market is on a tear. Sales are booming, and prices hit a record high. Low rates and remote work are driving factors.

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Economy

Payday Lending Poised For A Comeback In North Carolina

2:51pm August 28, 2020

by David Ford

Payday lending is poised for a comeback in North Carolina.

Gov. Cooper Calls For Increased Unemployment Benefits In New Budget

3:48pm August 27, 2020

by Eddie Garcia

The proposal is part of Governor Roy Cooper's new “Support For A Determined North Carolina” budget,

The Federal Reserve knows that "higher prices for essential items such as food, gasoline and shelter add to the burdens faced by many families," Fed Chairman Jerome Powell said. But he noted that ultra-low inflation or deflation is also a threat.

Economy

Fed Prepared To Let Economy Run Hotter

1:29pm August 27, 2020

by Scott Horsley

The Federal Reserve is adjusting its long-range policy on inflation and employment. The central bank said it's now more concerned with prices that are too low than with runaway inflation.