Economy

Powell pledges the Fed’s economic aid ‘for as long as it takes’

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Financial Services Committee hearing in Washington, D.C., on Tuesday, Feb. 11, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell pledged continued support for an economy that he said has shown substantial improvement but still needs more work. In […]

Economy

Housing starts August 2020

U.S. homebuilding fell in August after strong gains in the prior three months, but the housing market remains supported by record-low interest rates and demand for properties in the suburbs and low-density areas as many people work from home. Housing starts dropped 5.1% to a seasonally adjusted annual rate of 1.416 million units last month, […]

Economy

U.S. weekly jobless claims total 860,000, vs 875,000 expected

First-time claims for unemployment insurance beat Wall Street estimates last week as the U.S. economy enters a critical new stage. Filings totaled 860,000 for the week ended Sept. 12, the Labor Department reported Thursday. Economists surveyed by Dow Jones had expected 875,000, against the previous week’s upwardly revised 893,000. The number represents a modest downshift […]