Why partially reopening states does not guarantee economic recovery

Why partially reopening states does not guarantee economic recovery

The U.S. economy has faced a substantial loss due a nationwide shutdown. On April 29, the Bureau of Economic Analysis reported that the gross domestic product shrank by 4.8% in the first quarter, the lowest it’s been since the worst of the 2008 financial crisis. It’s partially due to a steep 7.6% drop in consumer […]

Fed chief too pessimistic on economic recovery

Fed chief too pessimistic on economic recovery

Kevin Hassett, Chairman of the Council of Economic Advisers, speaks during a briefing at the White House in Washington, DC, on September 10, 2018.Nicholas Kamm | AFP | Getty ImagesWhite House senior advisor Kevin Hassett told CNBC on Monday he disagreed with Federal...