ECONOMY

Jennifer Pahlka co-chaired a strike team that discovered that outdated fraud detection systems were to blame for delaying benefits for millions of Californians. As a result, a new modern ID verification system has just been launched to fix the problem.

'So Hard To Prove You Exist': Flawed Fraud Protections Deny Unemployment To Millions

10:19am October 14, 2020

by Chris Arnold

Efforts to prevent fraud in state unemployment systems are outdated, hurting millions of people with legitimate claims by causing lengthy and unnecessary delays while not managing to catch much fraud.

Queue Listen Now

Chairs are stacked outside a restaurant in Montreal on Sept. 29. The Quebec government ordered restaurants, bars and casinos to close for 28 days, effective midnight Sept. 30, after a recent spike in new daily coronavirus cases.

In Pandemic Downturn, Canada's Drive For Guaranteed Basic Income Picks Up Speed

4:04pm October 13, 2020

by Urooba Jamal

As pressure mounts for a longer lifeline than the government's emergency benefits, some lawmakers and advocates are pushing to make broader state stipends a priority.

Federal Reserve Chair Jerome Powell testifies before the House Financial Services Committee at the U.S. Capitol last month during a hearing about the Treasury Department's and Federal Reserve's pandemic response.

Trouble On Main Street

6:30am October 13, 2020

by Greg Rosalsky

The Federal Reserve launched a massive program to lend to small and midsize businesses. It has hardly loaned out anything.

Two American Professors Win Nobel Prize In Economics

4:06pm October 12, 2020

by Scott Horsley

Stanford University professors Paul Milgrom and Robert Wilson won the 2020 Nobel Memorial Prize in Economic Sciences for their work in understanding and designing auctions.

The Nobel Prize gold medal during manufacture at the Swedish Mint. Each laureate receives the medal, which has the likeness of Alfred Nobel on its face.

'Auctions Are Everywhere': 2020 Economics Nobel Goes To 2 Americans

11:12am October 12, 2020

Stanford's Paul Milgrom and Robert Wilson are honored for their "inventions of new auction formats." Auctions are now used to price Internet ads, wholesale electricity and fishing permits.

Queue Listen Now

Stanford Professors Win Nobel In Economics For Understanding And Designing Auctions

8:18am October 12, 2020

by Scott Horsley

The $1.1 million prize goes to Stanford professors Paul Milgrom and Robert Wilson for advancing knowledge of how buyers and sellers behave.

Queue Listen Now

How Have American Billionaires Gotten Richer Despite Pandemic Recession?

6:18pm October 08, 2020

by Audie Cornish

Since the pandemic began, many American billionaires have gotten even richer despite one of the country's worst recessions. NPR explores the reasons why and the implications for the future.

Queue Listen Now

Republican Congressman On The Stalled Pandemic Relief Package

3:55pm October 08, 2020

NPR's Mary Louise Kelly talks with Rep. Dusty Johnson, R-S.D., a member of the bipartisan Problem Solvers Caucus, about efforts to pass another economic relief package.

Traders gather on the New York Stock Exchange trading floor on Sept. 30. Major U.S. stock indexes rose Wednesday after President Trump said he'd be willing to consider economic relief measures. Trump earlier had called off such talks with lawmakers.

Stocks Surge After White House Says It's Open To Pandemic Aid After All

5:01pm October 07, 2020

by Jim Zarroli

Stocks reversed Tuesday's losses amid word that the Trump administration was considering stand-alone bills to aid airlines and small businesses. The president had called off talks on a relief bill.

Pandemic Drives More Americans To Food Banks

4:52pm October 07, 2020

by Paul Flahive

As the coronavirus pandemic drags on, more Americans are finding themselves in need of financial assistance. Food banks are feeling the pinch. And many of them say they can't keep up with demand.

Queue Listen Now