Vice President Mike Pence said that the fundamentals of the U.S. economy remain strong despite the coronavirus pandemic that has tanked markets and led to unprecedented layoffs of millions.
US consumer sentiment falls to lowest level in more than 3 years
U.S. consumer sentiment fell to a three-year low as the coronavirus outbreak takes a toll on the economy, according to data from the University of Michigan.
The Fed's balance sheet just passed $5 trillion for the first time ever due to coronavirus stimulus
Though its efforts to keep markets running and boost the economy are just getting into gear, the Federal Reserve's asset portfolio has reached levels never seen before.
U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.
The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be the last positive growth seen for some time as the country endures a sharp contraction due to the impact of the coronavirus.
Click on map for forecast