Analysis: The economic recovery looks poised to stall as coronavirus cases surge
last week, Pence argued reports of a spike were media hype and “more than half of states are actually seeing cases decline or remain stable.”“the numbers are very minuscule compared to what it was. It's dying out.” And he said even without a vaccine or effective treatment, the virus is “fading away.
“For economies struggling to control infection rates, a lengthier lockdown will inflict an additional toll on activity.” Weekly jobless claims out this morning will offer a fresh snapshot of the labor market. A Bloomberg survey of economists projects 1.3 million people lined up for unemployment benefits. Federal Reserve Board building on Constitution Avenue is pictured in Washington.
. “Sheila Bair, who led the Federal Deposit Insurance Corp. during the last crisis, said the Fed shouldn’t need stress tests to put a stop to dividends.”, a Bloomberg analysis found:Trump abruptly loses another economic adviser.Tomas J. Philipson, acting chairman of the White House Council of Economic Advisers, will leave his post by the end of June … The announcement comes two days after Kevin Hassett, a senior White House economic official and Philipson’s predecessor as chair of the CEA,.
. “Virginia officials said the state’s inspectors will police the new regulations, under penalties of up to $124,000 and the threat of closure in severe cases.”“Costs for protective gear, cleaning supplies and labor for employees to take students’ temperatures and conduct hourly wipe-downs of doorknobs are already running into the millions of dollars,” the WSJ's Melissa Korn“Three-fourths of the U.S.
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