Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding, but stressed that major sectors of the economy were still suffering.
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Asbury, which has eight Indianapolis-area dealerships, said it’s furloughing 2,300 employees across its 10-state operating footprint due to a sharp drop-off in sales and service revenue.Read More
The U.S. economy has a long way to go before regaining the strong health it enjoyed before the coronavirus paralyzed the country in March.
The uptick was about twice what economists expected. But inflation remains in check: Consumer prices are up just 1% over the past year.
Over the past two months, congressional approval ratings have crashed downward, after a sudden previous bump in approval. Fewer than 1 in 5 voters say they like what lawmakers are doing on Capitol Hill, according to the Gallup Poll.
A huge plunge in consumer spending as people stayed home in the April-June quarter likely sent the economy into a tailspin at a roughly 32% annual rate
Some economists said the June rise in prices would ease concerns that the country could be in danger of slipping into a destabilizing period of deflation, something not seen in the United States since the Great Depression.
In Indiana, more than 90% of federal loans topping $150,000 went to companies, according to the Treasury Department data. About 6% of the loans went to not-for-profit organizations.
The child-care crunch triggered by the pandemic has rapidly become a crisis for many workers and companies that is hindering the economic recovery, disproportionately harming women, and threatening to leave deep scars for years to come.
The field of economics is facing an upheaval, with African American scholars decrying bias in the profession and presenting evidence that leading journals have failed to publish sufficient research that documents racial inequalities.
Food costs have been rising due to high demand from Americans cooking more at home, but also because of lost production following virus outbreaks at food-processing facilities.
In all, the department store chain—which filed for bankruptcy protection last month—is closing nine locations in Indiana.
Netlogx has been working to help clients navigate the difficulties of the pandemic. And one of its key pieces of advice to business leaders is to keep a crisis journal. And to do it every day because the situation and information has been changing so quickly.
Stage 3 of the governor’s roadmap, scheduled to start Sunday, is set to increase the social gathering limit from 25 people to 100, allow retailers to go from operating at 50% capacity to 75% capacity, let fitness centers reopen and allow movie theaters to open at 50% capacity.
Now, as President Donald Trump and many Republicans press to reopen the economy, some experts see an ominous risk: That a too-hasty relaxation of social distancing could ignite a resurgence of COVID-19 cases by fall, sending the economy back into lockdown.
Leadership coach Craig P. Anderson says that a concise, straightforward business plan is the key to success—not just in normal times, but especially now, when the economy has been thrown for a loop.
The state is launching a marketplace for small businesses to help them acquire the face masks, sanitizer and other supplies they might need to reopen.
A survey of about 350 members of the National Federation of Independent Businesses found 59% want state and local governments to lift stay-at-home orders immediately and let companies reopen.
Among the concerns is that people—employees and consumers alike—will remain too wary of contracting the coronavirus to return to anything resembling normal economic behavior.
It was the sharpest fall since the economy shrank at an 8.4% annual rate in the fourth quarter of 2008 in the depths of the Great Recession.
Indiana Legal Services, Prosperity Indiana, Neighborhood Christian Legal Clinic and Indiana Institute for Working Families petitioned the court to protect the payments issued as part of the federal Coronavirus Aid, Relief and Economic Security Act.