US economy news
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- Wall Street tumbles as US threatens China with tariffs
US stocks are facing a second straight day of losses, after President Donald Trump threatened to unleash a new barrage of retaliatory tariffs on China over the coronavirus crisis. - Stocks and Chinese yuan cave in on Trump’s China tariff threatUS President Donald Trump’s renewed attack on Beijing over the coronavirus crisis has sunk the Chinese national currency, the yuan, to a one month-low, while global markets also dipped lower.
- ‘That’s a Ponzi scheme’: RT’s Keiser Report looks into US deflationary spiral caused by nonstop ‘printing of debt’Bond investors have started to debate whether the United States is heading into a deflationary spiral, even after trillions of dollars of stimulus has been injected into the coronavirus-hit global economy.
- US unemployment soars to over 30 MILLION as coronavirus pandemic wrecks economyFirst-time filings for unemployment insurance hit 3.84 million in the week ending April 25, the US Labor Department announced on Thursday.
- US economy dives to start year amid business shutdown & worst is yet to comeUS gross domestic product (GDP) fell 4.8 percent in the first quarter of 2020 amid the coronavirus pandemic lockdown, according to data released by the Department of Commerce on Wednesday.
- Federal Reserve’s actions led to ‘total bust’ of US economy, chief strategist tells RT’s Boom BustThe US Central Bank said this week that it will widen the number of local governments from which it will buy debt through a forthcoming lending program. More than 200 municipalities will be allowed to participate.
- Crude oil’s crash below $0 was ‘a pure freak of markets,’ economist tells Keiser ReportA week after the price US WTI crude plunged into negative territory for the first time ever, oil prices continue to freefall as concerns mount about the oversupply on the market.
- Expect unemployment rates to hit ‘Great Depression’ level, warns Trump’s economic advisorWhite House senior advisor Kevin Hassett says US economy is in “grave situation” and the unemployment rate could be hitting the same numbers seen during the Great Depression due to the Covid-19 pandemic.
- The oil market crash is far from overUS crude benchmark West Texas Intermediate (WTI) prices may have steadied somewhat after a wild couple of days, but the physical market for crude is still collapsing.
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