Economy

Federal Reserve Chairman Jerome Powell pauses during a news conference in Washington earlier this month. The Fed announced late Wednesday a new lending facility to back money market mutual funds battered by the coronavirus crisis.

Economy

Federal Reserve Establishes Lending Facility To Back Up Money Market Mutual Funds

9:21am March 19, 2020

by Scott Neuman

The Fed will receive $10 billion from the Treasury Department to cover potential losses in loans made to eligible financial institutions, to backstop the money market mutual fund industry.

Economy

North Carolina Jobless Claims Surge From Virus Layoffs

8:58am March 19, 2020

by Associated Press, Gary D. Robertson

Washington Lawmakers Try To Sort Out Coronavirus' Economics

8:26am March 19, 2020

NPR's Rachel Martin talks to Senate Minority Leader Chuck Schumer about federal aid to address the coronavirus' economic impact. The Senate is working on another measure that could total $1 trillion.

Queue Listen Now

Tamale Lady Is Caught Up In Coronavirus Massive Shutdown

7:53am March 19, 2020

by Eric Westervelt

As communities across the country radically restrict public gatherings, small business owners and their workers are scrambling to stay afloat. For example: Alicia Villanueva, the tamale lady.

Queue Listen Now

Food And Beverage Industry Hit Hard By Coronavirus Outbreak

7:41am March 19, 2020

Thousands of food service workers have been laid off. NPR's Rachel Martin talks to Sean Kennedy of the National Restaurant Association, which is asking the White House for critical help.

Queue Listen Now

Members of the United Auto Workers union will receive unemployment and supplemental pay, as negotiated under their contract, during the shutdown.

Economy

Ford, GM, FCA Suspending Production At North American Plants

8:51pm March 18, 2020

by Camila Domonoske

The UAW, the autoworker's union, had been pushing for a two-week shutdown because of worker concerns. Plants will be shut down at least through March 30.

Economy

Federal Government Protects Most Homeowners From Foreclosure For 60 Days

8:13pm March 18, 2020

by Camila Domonoske

Foreclosures will be paused for mortgages insured by the Federal Housing Administration or backed by Fannie Mae or Freddie Mac. That covers most mortgages for single-family homes.

An Urban Outfitters store displays a closed sign in Santa Monica, Calif. With businesses shutting down around the country, a flood of new unemployment claims are pouring in.

Economy

Unemployment Websites Are Crashing Across The Country

7:00pm March 18, 2020

by Jim Zarroli

With more and more businesses shutting down around the country, a flood of new unemployment claims are pouring in. But President Trump continues to downplay the impact of the virus on the economy.

The $1 trillion stimulus package proposed by the Trump administration would give Americans more spending money, but beside grocery stores many spending outlets have been closed by the pandemic.

Economy

Stimulus Cash For Strapped Workers, With Few Places To Spend It

6:45pm March 18, 2020

by Scott Horsley

The $1 trillion stimulus package proposed by the Trump administration is unusual in that it would give Americans more spending money, even as many spending outlets have been closed by the pandemic.

Economy

Possible Lessons From A Recession-Era Federal Economist About Coronavirus Response

6:41pm March 18, 2020

Betsey Stevenson, former member of President Obama's Council of Economic Advisers, speaks with NPR's Ari Shapiro about economic levers the Trump administration could pull in response to coronavirus.

Queue Listen Now