People walk along Broadway as the coronavirus keeps financial markets and businesses mostly closed on May 08, 2020 in New York City. The Bureau of Labor Statistics announced on Friday that the US economy lost 20.5 million jobs in April. This is the largest decline in jobs since the government began tracking the data in […] More
You might be wondering why the stock market is doing so well when you’re doing so badly. Even if you’re coasting, you likely know people who are struggling. The reality is, small-town America doesn’t go under the lens of Wall Street, says Walid Petiri, owner of Financial Management Strategies, an advisory firm in Baltimore. Certain […] More
Chip Somodevilla | Getty Images The IRS has a clear message for families of the deceased who receive stimulus checks: Give the money back. But what those who recently died because of Covid-19? At least 75,852 U.S. deaths have been caused by the novel coronavirus, according to the latest data from Johns Hopkins University. Meanwhile, […] More
Business owners who received loans through the Paycheck Protection Program and don’t need it have until May 14 to return the cash. The PPP – a forgivable loan program that allows small businesses to cover up to eight weeks of payroll costs, mortgage interest and other expenses – was just refilled to the tune of […] More
Employee Linda Tarkenton holds a blank U.S. Treasury check before it’s run through a printer at the U.S. Treasury printing facility in Philadelphia. Getty Images When it comes to those federal stimulus checks, the IRS wants some of that money returned. At least that’s what the tax agency essentially said in its latest guidance issued […] More
The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero in response to the economic shock from the coronavirus crisis. “The most significant responsibility of the Fed now is to make sure that credit markets continue to function,” said Greg McBride, chief financial analyst at Bankrate.com. “Without functioning credit markets, there will be no economic […] More
CNBC’s Jim Cramer warned Monday that the U.S. economy may be too weak right now to handle another trade fight with China and discouraged the Trump administration from imposing a new wave of tariffs against Beijing. Cramer also drew a comparison to the Great Depression, saying that to hike tariffs against China now would be […] More
Artur Widak | NurPhoto | Getty Images This is not going away anytime soon. From grocery shopping to working remotely to homeschooling kids, nearly everything in life is different. Almost all Americans are anxious about money, according to a survey from National Endowment for Financial Education. “We are in a crisis,” said Dr. Brad Klontz, […] More
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. Global cases: More than 3 million Global deaths: More than 210,800 Most cases reported: United States (987,022), Spain (229,422), Italy (199,414), France (165,962), and Germany (158,434). The data above was compiled […] More
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