Ready Capital has kept thousands of small businesses waiting for critical loans as it struggled to meet demand
Author: Paul Davidson, USA TODAY
21M job losses, 16% unemployment would reflect just part of the economic damage from the coronavirus
Economists forecast 21.5M job losses and 16% unemployment in April report due Friday. But such numbers don’t account for millions who left labor force.
Besides millions of layoffs and plunging GDP, here’s another worry for economy: Falling prices
Deflation, or falling prices, is another risk for the economy. Falling demand for goods and services could push down prices, creating a toxic cycle.
GDP report set to show just initial wave of coronavirus damage as Fed vows continued aid
Q1 GDP report, out Wednesday, is set to reveal early economic fallout from the coronavirus. Later Wednesday, the Fed is likely to vow continued aid.
Oil prices plunge below zero, stocks close lower
Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic.
Coronavirus PPP loans leave small firms confused, wary and rushing to secure cash to survive
Small businesses are scrambling to secure federal loans to survive the coronavirus fallout. Many have days to survive. Others are wary of the loans.
Another 6.6M Americans file for unemployment benefits as layoffs show no letup
Another 6.6 million workers file unemployment benefit claims as the coronavirus shuts down the economy and layoffs mount.
Powell says recovery can be ‘fairly quick,’ ‘robust’ but Fed in no hurry to pull back aid
Fed Chair Powell Says the recovery from the coronavirus ecession can be d ‘robust’ but the Fed is in no hurry to pull back the aid it has provided
Fed launches programs to provide $2.3 trillion in loans aimed at businesses, states and cities
Fed announces $600B lending program for midsize firms
Millions of new unemployment claims expected as layoffs continue to surge
Millions of Americans probably applied for unemployment benefits over the past week as more companies laid off or furloughed workers.