Latest Jerome Powell News

A group of kayakers practice social distancing while floating down the Greenbrier River Thursday, March 26, 2020 in Ronceverte, W.Va. Greenbrier County Health Department reported it's first COVID-19 case in the county Thursday. (Jenny Harnish/The Register-Herald via AP)

The Latest: Phuket closes land and sea entry and exit points

Mar. 30, 2020 3:07 AM EDT

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — Trump extends stay-at-home guidelines for another 30 days....

President Donald Trump speaks to the press before boarding Air Force One in Andrews Air Force Base, Md., Saturday, March 28, 2020. Trump is en route to Norfolk, Va., for the sailing of the USNS Comfort, which is headed to New York. (Jim Watson/Pool Photo via AP)

AP FACT CHECK: Trump gets a reality check on coronavirus

Mar. 30, 2020 1:34 AM EDT

WASHINGTON (AP) — For weeks, President Donald Trump carved out a trail of groundless assurances about the coronavirus pandemic as health officials, governors and local officials sounded alarm about what was coming — and already here. That sunlit trail now has hit a wall. On Sunday, Trump appeared to...

FILE - In this March 26, 2020, file photo President Donald Trump speaks about the coronavirus accompanied by Dr. Anthony Fauci, left, director of the National Institute of Allergy and Infectious Diseases, Vice President Mike Pence, and Dr. Deborah Birx, White House coronavirus response coordinator, in the James Brady Briefing Room in Washington. (AP Photo/Alex Brandon, File)

AP FACT CHECK: Trump a rosy outlier on science of the virus

Mar. 28, 2020 3:51 PM EDT

WASHINGTON (AP) — Groundless assurances keep coming from President Donald Trump, a rosy outlier on the science of the coronavirus pandemic. It's been that way since before the virus spread widely in the United States, when he supposed that the warmer weather of April might have it soon gone, a prospect the...

President Donald Trump speaks before he signs the coronavirus stimulus relief package in the Oval Office at the White House, Friday, March 27, 2020, in Washington. Listening are from left, Larry Kudlow, White House chief economic adviser, Treasury Secretary Steven Mnuchin, Senate Majority Leader Mitch McConnell, R-Ky., and House Minority Leader Kevin McCarty of Calif. (AP Photo/Evan Vucci)

Trump signs $2.2T stimulus after swift congressional votes

Mar. 28, 2020 12:09 AM EDT

WASHINGTON (AP) — President Donald Trump signed an unprecedented $2.2 trillion economic rescue package into law after swift and near-unanimous action by Congress to support businesses, rush resources to overburdened health care providers and help struggling families during the deepening coronavirus...

A man balances boxes of food that he picked up from Masbia Soup Kitchen, Thursday, March 26, 2020 during the coronavirus pandemic in the Brooklyn borough of New York. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo/Mark Lennihan)

Staying afloat: $2.2 trillion bill offers economic lifeline

Mar. 27, 2020 6:33 PM EDT

WASHINGTON (AP) — In the coronavirus crisis, even doctors can face a cash crunch. Dr. Benjamin Ticho, an ophthalmologist in Chicago Ridge, Illinois, has seen his revenue plunge 80% as patients stay home and he cancels non-emergency surgeries. He’s cut his staff’s hours sharply and is...

FILE - In this Feb. 14, 2020 file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany.   Georgieva said Friday, March 27,  it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn.  She said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage(AP Photo/Jens Meyer, File)

IMF head says global economy now in recession

Mar. 27, 2020 3:55 PM EDT

WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recovery in 2021,...

House Speaker Nancy Pelosi of Calif. arrives to read a statement outside her office on Capitol Hill, Monday, March 23, 2020, in Washington. (AP Photo/Andrew Harnik, Pool)

Washington set to deliver $2.2 trillion virus rescue bill

Mar. 26, 2020 9:36 PM EDT

WASHINGTON (AP) — With rare bipartisanship and speed, Washington is about to deliver massive, unprecedented legislation to speed help to individuals and businesses as the coronavirus pandemic takes a devastating toll on the U.S. economy and health care system. The House is set to pass the sprawling, $2.2...

FILE - In this March 18, 2020 file photo, visitors to the Department of Labor are turned away at the door by personnel due to closures over coronavirus concerns in New York. A record-high number of people applied for unemployment benefits last week as layoffs engulfed the United States in the face of a near-total economic shutdown caused by the coronavirus. The surge in weekly applications for benefits far exceeded the previous record set in 1982.  (AP Photo/John Minchillo, File)

Congress' relief bill would vastly expand unemployment aid

Mar. 26, 2020 4:46 PM EDT

NEW YORK (AP) — With record-high numbers of Americans seeking unemployment benefits after losing their jobs because of the coronavirus, Congress is set to significantly enhance the program. The $2.2 trillion rescue package nearing final approval will, for four months, add $600 a week to standard...

House Speaker Nancy Pelosi of Calif., heads to a news conference on Capitol Hill in Washington, Thursday, March 26, 2020. (AP Photo/Susan Walsh)

Pelosi forecasts House OK of Senate's $2.2T virus aid plan

Mar. 26, 2020 12:22 PM EDT

WASHINGTON (AP) — The House will give final approval Friday to the massive $2.2 trillion economic rescue bill with robust backing from both parties, Speaker Nancy Pelosi said, a vote that would cap Congress' tumultuous effort to rush the relief to a nation battered by the coronavirus. Pelosi spoke...

FILE - In this June 19, 2019, file photo cargo ships are docked at the Port of Los Angeles in Los Angeles. The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for awhile as the country endures a sharp contraction due to the impact of the coronavirus. (AP Photo/Marcio Jose Sanchez, File)

US economy grew at 2.1% rate in fourth quarter

Mar. 26, 2020 10:09 AM EDT

WASHINGTON (AP) — The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for some time as the country endures a sharp contraction due to the coronavirus. The Commerce Department said Thursday in its third and final look...