ECONOMY

News Brief: Coronavirus Outbreak Effects, Democratic Primary Debate

6:09am March 16, 2020

Federal Reserve cuts key interest rate to near zero. Nearly 2 million coronavirus tests will be available this week to hardest hit states. And, Democrats Joe Biden and Bernie Sanders debate.

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Federal Reserve Chairman Jerome Powell has been a frequent target of President Trump, who has urged the central bank to slash interest rates more aggressively.

Economy

Fed Cuts Rates To Near Zero As Coronavirus Rips Through Economy

7:51pm March 15, 2020

by Avie Schneider

The Federal Reserve cut its key interest rate to near zero — a dramatic move not seen since the depths of the 2008 financial crisis. President Trump — who has slammed the Fed — praised the move.

Economy

Trump 'Very Happy' With Fed Decision To Cut Interest Rates

6:27pm March 15, 2020

by Scott Horsley

Trump told reporters at the White House that he's pleased with the Federal Reserve's move to cut interest rates. He also told Americans to stop panic-buying groceries as fears rise about coronavirus.

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Economy

U.S. Economic Effects Of The Coronavirus Travel Ban

5:05pm March 14, 2020

by Scott Horsley

The Trump administration's decision to include the U.K. and Ireland to its month-long travel ban will likely come with a big price tag for the U.S. economy.

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The stock market rebounded Friday after cratering on fears over the coronavirus pandemic.

Economy

Dow Soars Nearly 2,000 Points In Rebound From Biggest Drop Since 1987

4:44pm March 13, 2020

by Avie Schneider

The Dow Jones Industrial Average and other major stock indexes jumped as President Trump declared a national emergency to deal with the coronavirus pandemic.

Uber and Lyft drivers say they are seeing less demand for rides in big cities where events are being canceled and people are encouraged to work from home.

Economy

Not Employees: Gig Workers Like Uber Drivers Aren't Eligible For Sick Leave

4:27pm March 13, 2020

by Shannon Bond

The outbreak is creating uncertainty for Uber drivers and other gig workers, who face difficult choices about whether to work or stay home and lose their livelihoods.

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Economy

When The Coronavirus Outbreak Creates A Panic-Buying Boom For Your Product

4:18pm March 13, 2020

The coronavirus has given stock markets and the global economy a whack. Some businesses are feeling pain, while others are seeing gains. And a handful of companies are experiencing both.

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The underlying financial plumbing that allows banks and markets to operate smoothly is under strain.

Economy

Something's Wrong: Stock Sell-Off Exposes Weak Links In Financial System

2:04pm March 13, 2020

by Uri Berliner

The worry is that bankers, traders and big funds might suddenly find themselves out of cash. Such a scenario could create an ugly spiral throughout the economy.

Amid Coronavirus-Related Economic Turmoil, Gas Prices Hit A Low

11:02am March 13, 2020

by Camila Domonoske

Gas prices have dropped as Saudi Arabia and Russia send the price of crude oil plummeting. That's helping drivers save money but is hurting oil producers around the globe.

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Economy

Nick Hanauer: How Do We Begin To Reinvent Capitalism?

8:51am March 13, 2020

by NPR/TED Staff

Billionaire entrepreneur Nick Hanauer says that today's inequality results from decades of bad economic theory. He argues for a reinvention of our capitalist system and our definition of prosperity.

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