Sooner Politics.org
  • Front Page
  • Oklahoma News
    • Oklahoma Reports
    • Oklahoma Center Square
    • AP Wire
    • NewsBreak Oklahoma
    • Oklahoma Almanac
    • Trump Tweets
    • Muskogee Now
    • Capitol Beat
    • Faked Out Sports
    • OSU Sports
  • SoonerPolitics TV
  • Legislative Watch
    • Legislative Scores
    • Right To Arms
    • Okla. Medical Marijuana Law
    • Congressional Tweets
    • Kevin Stitt
    • Lawmaker's Journal
  • Editorial
    • From the Editor
    • Weekend Report
    • 3D Politics
    • On This Date
  • Sooner Issues
    • State Groups
  • Sooner Analysts
    • OCPA
    • Pat Campbell
    • Muskogee Politico
    • 1889 Institute
    • Constitutional Grounds
    • E PLURIBUS OTAP
    • Steve Byas
    • Everett Piper
    • Michael Bates
    • Steve Fair
    • Andrew Spiropoulos
    • AircraftSparky
    • Corruption Chronicle
    • OCPAC
    • Josh Lewis
    • Sooner Tea Party
    • Red River TV
    • Tapp's Common Sense
    • Me, Myself, & Liberty
    • Nigel O'mally
    • Cut The Crap
    • KOKC
  • Nation
    • Breitbart News
    • Rush Limbaugh
    • Daily wire
    • Steven Crowder
    • InfoWars News
    • The F1rst
    • NewsMax
    • America's Voice
    • Ron Paul Institute
    • Bill Gertz
    • D i s r n
    • Just the News
    • Trey Gowdy
    • Fox Politics
    • National Commentary
  • Wit & Whimsy
    • Terrence Williams
    • Witty Cartoons
    • Will Rogers Said
    • Repository of Pith
    • Dubiosity
    • Steeple Chasers
    • The Partisan
    • Satire
    • New Media Guide
  • SoonerPolitics.org
    • Masthead

New figures show Coronavirus dealing body blow to U.S. economy

4/29/2020

0 Comments

 


The Trump Administration reported Wednesday that U.S. economic output shrank by 4.8 percent in the first quarter of this year, the first official estimate of the serious negative impact from the outbreak of the Coronavirus. It was the largest step for the U.S. economy since the end of 2008, as job losses mounted in the aftermath of the Wall Street Collapse. How much worse the figures get will depend on how long the nation is held back by the virus, which has resulted in shuttered businesses all over the nation, along with massive job losses. “We're going to see economic data for the second quarter that's worse than any data we've seen for the economy,” said Federal Reserve Chairman Jerome Powell. “It's going to be a time of sharp contraction of economic activity,” Powell added. Since states began ordering residents to stay at home and limit their social activities, more than 22 million Americans have filed first time claims for unemployment benefits. 'This number is just the tip of the iceberg,' said Rep. Don Beyer (D-VA). 'March’s drop is offset here by earlier months, and April was so much worse.' Before the arrival of the Coronavirus, economic activity had been plugging along in the U.S., with growth at 2.1 percent in both the third and fourth quarters of 2019. And the first quarter in the U.S. was expected to be much the same. But starting in mid-March, almost everything went off the rails. “It's an extraordinary, extraordinary shock,” the Federal Reserve Chairman told a video news conference on Wednesday. Asked how long the economic downturn would last, Powell said the answer is simply about the success of stopping the Coronavirus. “How long will it take to get under control? Will there be additional outbreaks?” Powell asked, not knowing the answers to those questions.


(Feed generated with FetchRSS)
- April 29, 2020 at 07:38PM
New figures show Coronavirus dealing body blow to U.S. economy
Click on this headline to read the full story at Jamie Dupree - Washington Insider
0 Comments



Leave a Reply.

    Picture

      Jamie Dupree  

      Jamie Dupree is the Washington Bureau Chief for Cox Communications. He writes and produces radio reports with the aid of digital reconstructions of the voice he lost in 2012..

    Picture

    Archives

    July 2020
    June 2020
    May 2020
    April 2020

    Categories

    All

    RSS Feed

​FRONT PAGE •  OKLAHOMA NEWS • EDITORIAL • SOONER ISSUES •​ STATE GROUPS •​ SOONER ANALYSTS •​ LAWMAKER'S JOURNAL •​ NATION •​ NATIONAL COMMENTARY •​ CARTOONS •​ ​
Picture

918 . 928 . 7776

 SoonerPolitics.org is committed to informing & mobilizing conservative Oklahomans for civic reform & restored liberty. We seeks to utilize the efforts of all cooperative facets of the Conservative movement... Content of the diverse columns are solely at the discretion of the dozens of websites who create the content.   David Van Risseghem  is the founder of this platform.
 Sooner Politics News is a platform, not a media site. All our bloggers get their feeds promoted regardless of content. As soon as We suppress or delete even one posting, we become an endorser of whatever We didn't censor..The publisher doesn't (and could not) logically agree with all the content, so we would not expect any rational reader to agree, either. What we do hope, is that readers will think for themselves, and at least be better informed of the issues, events, and values that our citizen journalists work hard to provide for free.. We automate much of the tasks so that our sources' content gets as much exposure as possible. We encourage constructive discussion & debate. The solution is more free speech, not less.​

  • Front Page
  • Oklahoma News
    • Oklahoma Reports
    • Oklahoma Center Square
    • AP Wire
    • NewsBreak Oklahoma
    • Oklahoma Almanac
    • Trump Tweets
    • Muskogee Now
    • Capitol Beat
    • Faked Out Sports
    • OSU Sports
  • SoonerPolitics TV
  • Legislative Watch
    • Legislative Scores
    • Right To Arms
    • Okla. Medical Marijuana Law
    • Congressional Tweets
    • Kevin Stitt
    • Lawmaker's Journal
  • Editorial
    • From the Editor
    • Weekend Report
    • 3D Politics
    • On This Date
  • Sooner Issues
    • State Groups
  • Sooner Analysts
    • OCPA
    • Pat Campbell
    • Muskogee Politico
    • 1889 Institute
    • Constitutional Grounds
    • E PLURIBUS OTAP
    • Steve Byas
    • Everett Piper
    • Michael Bates
    • Steve Fair
    • Andrew Spiropoulos
    • AircraftSparky
    • Corruption Chronicle
    • OCPAC
    • Josh Lewis
    • Sooner Tea Party
    • Red River TV
    • Tapp's Common Sense
    • Me, Myself, & Liberty
    • Nigel O'mally
    • Cut The Crap
    • KOKC
  • Nation
    • Breitbart News
    • Rush Limbaugh
    • Daily wire
    • Steven Crowder
    • InfoWars News
    • The F1rst
    • NewsMax
    • America's Voice
    • Ron Paul Institute
    • Bill Gertz
    • D i s r n
    • Just the News
    • Trey Gowdy
    • Fox Politics
    • National Commentary
  • Wit & Whimsy
    • Terrence Williams
    • Witty Cartoons
    • Will Rogers Said
    • Repository of Pith
    • Dubiosity
    • Steeple Chasers
    • The Partisan
    • Satire
    • New Media Guide
  • SoonerPolitics.org
    • Masthead