Economy

The United States' economy is expected to contract 8% in 2020 vs. an earlier estimate of 5.9%.

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

The program is supporting "more than 75% of the small-business payroll in all 50 states," Treasury Secretary Steven Mnuchin said.

Chairman Jerome Powell repeated that the Fed will do whatever it takes to support the economy.

In updating its projections for growth and unemployment on Wednesday, the Federal Reserve poured cold water on the notion that last week's surprise jobs…

Covid-19 will increase consolidation of resources with large global businesses, especially in tech and retail sectors.

Forecasts had called for a decline of 7.5 million in payrolls and a jump in the unemployment rate to 19%.

But stocks, unlike Treasuries, are trading as if it won't, according to the economist and investment adviser.