Disinterest in reopening communication channels active under President Obama indicates a continuing deterioration in ties between the world's two biggest economies.

Despite a Twitter-user outcry, and loss of value for some cryptocurrency-related assets, market observers point out that this matches IRS treatment of cash transactions.

Covid recovery will require additional fiscal stimulus, he says, but prospects look dim for a package to pass before the election.

Fed signals it will hold interest rates steady through at least 2023.

The central bank will use a diversified, internally developed index in selecting which specific U.S. corporate issues it will purchase.

The Federal Reserve's Beige Book shows 38 million job losses in two months and an annualized 4.8% GDP decline Q1, with the prospect of a much steeper drop this quarter.

By April 3, borrowing was already more difficult, as demand for cash increased and companies' internally generated cash flows shrunk.

Federal Reserve officials restated their pledge to hold the benchmark interest rate near zero and will keep buying bonds, judging that the coronavirus…