Martin Crutsinger
U.S. consumer spending sinks by record 13.6% in face of virus
WASHINGTON (AP) – United States consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs...
U.S. economy shrank at 5% annual rate in Q1
WASHINGTON (AP) – The United States economy shrank at an even faster pace than initially estimated in the first three months of this year...
Nearly 39 million have sought U.S. jobless aid since virus hit
WASHINGTON (AP) – More than 2.4 million people applied for U.S. unemployment benefits last week in the latest wave of layoffs from the viral...
Fed’s Powell says new lending programs to launch by June 1
WASHINGTON (AP) – Federal Reserve Chair Jerome Powell said Tuesday that the Fed's lending programs for medium-sized businesses and state and local governments would...
U.S. wholesale prices drop record 1.3% in April
WASHINGTON (AP) – Wholesale prices slid a record 1.3% in April led by a 19% plunge in the cost of energy, further signaling the...
U.S. consumer spending plunges record 7.5%, reflecting virus
WASHINGTON (AP) – United States consumer spending plunged 7.5% in March, reflecting the growing impact of the coronavirus pandemic as Americans complied with stay-at-home...
U.S. economy shrank at 4.8% rate last quarter as virus struck
WASHINGTON (AP) – The United States economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the...
Consumer confidence plunges in April as millions lose jobs
WASHINGTON (AP) – United States consumer confidence plunged in April as millions lost their jobs, with an index that monitors attitudes about current business...
IMF: Global economy will suffer worst year since Depression
WASHINGTON (AP) – Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of...
Fed announces $2.3 trillion in additional lending
WASHINGTON (AP) – The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to support American households and businesses,...