U.S. Economy Grows At Record Pace But Still Has A Long Way To Go
U.S. GDP grew at a record 33.1% annualized pace in the third quarter, erasing some but not all of the damage done by the coronavirus recession.
recession
Last Report Card On U.S. Economy Before Elections Will Be A Blockbuster
The U.S. is expected to report record-setting economic growth in the most recent quarter. But that won't repair all of the damage done during the spectacular downturn three months earlier.
Why Reopening Isn't Enough To Save The Economy
A blockbuster new study digs into the economics of the pandemic.
The Rich Have Stopped Spending And That Has Tanked The Economy
While retail sales bounced back in May after a deep drop in March and April, the wealthiest Americans are not spending as freely as they did before the pandemic. And that could limit the recovery.
World Bank: Recession Is The Deepest In Decades
The World Bank issues a report this week detailing the extent of the recession, the first caused solely by a pandemic. Its findings are sobering — but do offer a glimmer of hope.
Federal Reserve Vows To Help Economy Weather The Pandemic Recession
The Fed leaves interest rates near zero as expected, and promises to use all of its tools to support the economy. Officials project unemployment above 9% at the end of this year.
It's Official: U.S. Economy Is In A Recession
The committee tasked with marking U.S. business cycles says the economy peaked in February and has since been in a recession triggered by the pandemic. But it says the recession could be short-lived.
Fed's Powell Says Sharp Downturn Won't Last
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.
'Tip Of The Iceberg': Economy Shrinks At 4.8% Pace, But Worst Is Yet To Come
The economy contracted in the first quarter of 2020 as the coronavirus began to take its toll and spending dived. It's the first quarterly drop in six years and a likely precursor to a deep recession.
IMF Warns Of Steepest Recession Since The Great Depression
The fallout from the coronavirus will be much worse than that of the financial crisis, the IMF says. The global economy is expected to shrink by 3% this year; the U.S. GDP could fall twice as much.