Issuing state and local aid before possible budget deficits can help avoid "a huge drag on the economy," an Economic Policy Institute director said. [Read More]
"Balance sheet damage will hinder recovery even when the virus subsides," Krugman said, adding state governments require more aid to fuel a rebound. [Read More]
Fragile state budgets, sluggish aid flows, and crumbling infrastructure for unemployment claims threaten to deepen an already likely recession. [Read More]
The bank's baseline scenario sees the 12-month trailing default rate jumping to 13% through 2020 and $555 billion in bonds downgraded to junk status. [Read More]
Small businesses accounted for the private-sector job cuts, shedding 90,000 payrolls through the month ended March 12, according to ADP. [Read More]
The bleakest prediction among those surveyed by Bloomberg was 6.5 million claims, about double the record 3.3 million in last week's report. [Read More]
"Sky-high jobless claims numbers" and the $2 trillion stimulus bill contribute to Goldman's call for "a deeper trough" and "a bigger rebound." [Read More]
A V-, U-, or W-shaped recovery brings activity back to past highs, while an L- or I-shaped drop characterizes a prolonged economic recession. [Read More]
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