ECONOMY

U.S. Economy Hit Hard By Coronavirus Fallout, Recovery Time Debated

8:13am May 19, 2020

NPR's Steve Inskeep talks to White House adviser Kevin Hassett ahead of a Senate panel hearing on the CARES Act, which assists individuals, businesses and local governments affected by COVID-19.

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News Brief: WHO Meeting, Hydroxychloroquine, Senate Panel Hearing

7:06am May 19, 2020

WHO's general assembly meets for second day. President Trump says he is taking a drug to protect against COVID-19. And, the Fed chairman and Treasure secretary will testify before a Senate panel.

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Los Angeles shoppers wait in line to enter Whole Foods Market. LA County is one of the only regions in California that has elected to not enter a phase two reopening.

California Loosens Counties' Reopening Requirements

9:50pm May 18, 2020

by Hannah Hagemann

Currently 24 counties have entered a stage that allows dine-in restaurants, destination retail, community centers and schools to reopen with modifications.

Treasury Secretary Steven Mnuchin speaks during a coronavirus task force briefing in April.

READ: Mnuchin, Fed Chair Powell Testimony On Coronavirus Relief

5:53pm May 18, 2020

by Alana Wise

"As a society, we should do everything we can to provide relief to those who are suffering for the public good," the head of the Federal Reserve will tell a Senate committee.

Shoppers began showing up earlier this month at International Plaza in Tampa, Fla. Mall business has been slow to pick up, with a lot of people still reluctant to venture out.

Businesses Are Reopening, But Customers May Not Be Ready To Go Back

3:51pm May 18, 2020

by Jim Zarroli

Governors around the country have begun slowly allowing stores, restaurants and malls to serve customers again. But it won't count for much if people are afraid to venture out.

This is the story of what it takes to produce a national vaccine supply.

Economy

The Market For Emergency Vaccines Is Like No Other

2:17pm May 18, 2020

This is the story of what it takes to produce a national vaccine supply.

Federal Reserve Chairman Jerome Powell says while the coronavirus is likely to cause Depression-era levels of unemployment, the economy should recover faster than it did in the 1930s.

Fed's Powell Says Sharp Downturn Won't Last

11:09am May 18, 2020

by Scott Horsley

Fed Chairman Jerome Powell warns it could be another year and a half before the U.S. recovers from the economic fallout of the pandemic. But he says this will not be another Great Depression.

Economy

Ford Rechoreographs Plants To Allow For Workers To Socially Distance

7:18am May 18, 2020

NPR's Noel King talks to Jim Hackett, CEO of the Ford Motor Company, on the automaker's plans to restart production at some of its North American plants on Monday. NPR's Camila Domonoske weighs in.

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Florida's Complete Phase 1 Reopening Happens As COVID-19 Cases Rise

6:01am May 18, 2020

by Greg Allen

In Florida Monday, more places are permitted to reopen. Businesses that opened earlier, will be allowed higher capacity limits. At the same time, there's been been an upswing in COVID-19 cases.

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Unemployed people wait outside the state Labor Bureau in New York City in 1933. The current economic crisis has drawn comparisons to the Great Depression, but experts say this downturn should be shorter.

'A Lot To Be Hopeful For': Crisis Seen As Historic, Not Another Great Depression

8:00am May 17, 2020

by Scott Horsley

The speed and scale of the economic crash have drawn comparisons to the Great Depression. But this downturn should be shorter, former Fed Chairman Ben Bernanke and other economic historians say.

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