Economy

Q2/2020 saw the steepest economic decline on record. Whether Q3 reflects a recovery will depend, in large part, on whether the country can reverse the course of Covid-19.

Professor whose formula predicts corporate bankruptcies warns that growing debt during the Covid crisis might lead to unprecedented spate of bankruptcies.

The United States' economy is expected to contract 8% in 2020 vs. an earlier estimate of 5.9%.

The central bank will use a diversified, internally developed index in selecting which specific U.S. corporate issues it will purchase.

The program is supporting "more than 75% of the small-business payroll in all 50 states," Treasury Secretary Steven Mnuchin said.

Chairman Jerome Powell repeated that the Fed will do whatever it takes to support the economy.