• Economy Too Fragile for Congress to Remove Income Support
  
  After approving the most generous unemployment benefits in U.S. history to help counter the coronavirus,
• US to Revise Chinese Passenger Airline Ban After Beijing Move
  
  The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said.
• Economic Bottom May Be Here, But Rebound Is Slow So Far
  
  The U.S. economy may have hit its low point in the coronavirus crash but the rebound so far remains tepid, according to both broad indexes of activity and higher frequency counts of cellphone data and employee time information.
• Trade Deficit Widens to $49.4B as Exports Hit 10-Year Low
  
  The U.S. trade deficit surged in April as the COVID-19 pandemic upended the global flow of goods and services, pushing exports to a 10-year low.
• Fed Seen Staying Course With Yield Curve Control Likely
  
  Federal Reserve officials are unlikely to signal any new moves at their meeting next week, though many economists expect they will turn to yield-curve control later this year, recruiting a tool not used in the U.S. since World War II.
• Jobless Claims Drop Below 2M as Economy Reopens
  
  The number of Americans filing for unemployment benefits dropped below 2 million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by COVID-19.
• Trump to Newsmax TV: I Predict 'Mind-Boggling' Recovery
  
  President Donald Trump has long predicted he will build the greatest economy in American history again, this time predicting on Newsmax TV, it will be "mind boggling."
• ADP Survey: Businesses Cut 2.76 Million Jobs in May
  
  U.S. businesses shed 2.76 million jobs in May as the economic damage from the coronavirus outbreak stretched into a third month.
• Hassett: ADP Jobs Report Shows Positive Signs for Economy
  
  A private-sector jobs report for May revealed numbers that were so much lower than expected after coronavirus pandemic-related shutdowns that White House senior economic adviser Kevin Hassett said Wednesday he may have to examine them for himself.
• Services Sector Still Contracts in Rising From 11-Year Low
  
  U.S. services industry activity pushed off an 11-year low in May, but businesses appeared in no rush to rehire workers as they reopen, supporting views the economy could take years to recover from the devastation caused by the COVID-19 crisis.
• Factory Orders Tumbled in April Amid Pandemic Lockdowns
  
  New orders for U.S.-made goods plunged in April, suggesting business spending remained depressed early in the second quarter amid the COVID-19 pandemic.
• Strong Auto Sales Encourage Plan to Rebuild Inventories
  
  Several automakers on Tuesday reported stronger-than-expected May sales in the United States, and the Detroit automakers said they will work through their annual summer shutdowns to rebuild inventories as demand recovers from coronavirus shutdowns.The U.S. auto sector has...
• White House Studying Options for New Virus Stimulus Bill
  
  President Donald Trump and his senior advisers are expected to meet as early as this week to begin reviewing options for the next coronavirus relief package.
• Box-Office Revenue Seen Plunging 50% Amid Virus Lockdown
  
  Box-office revenue reportedly could plunge about 50% because of movie-theater closures sparked by the coronavirus pandemic’s economic lockdowns.
• One-Third of Record Unemployment Payout Hasn't Arrived
  
  Almost one-third of unemployment benefits estimated to be owed to the millions of Americans who lost their jobs as a result of the coronavirus slump haven't been paid yet, as flagship policies struggle to cope with the unprecedented wave of layoffs.
• Atlanta Fed: GDP to Plunge 52.8% Amid Virus Lockdowns
  
  The Federal Reserve Bank of Atlanta warns that second-quarter gross domestic product is poised to plunge more than 50% as the nation grapples with the seeminly endless coronavirus pandemic and subsequent economic lockdowns.
• CBO: Coronavirus Will Cost Economy Nearly $8 Trillion
  
  The coronavirus is likely to reduce GDP by $7.9 trillion, or 3%, through fiscal 2030, according to the Congressional Budget Office.
• Wall Street, Fed Fly Blind as Virus Upends Stress Tests
  
  U.S. financial regulators, banks and their investors will get their first glimpse into the health of the nation's banking system as it confronts soaring corporate and consumer defaults in the economic crisis sparked by the novel coronavirus.
• Construction Spending Falls Less Than Expected
  
  U.S. construction spending fell less than expected in April even as other sectors of the economy buckle under the COVID-19 crisis.
• ISM: Manufacturing Stabilizing at Depressed Level
  
  U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment.
• Goldman: Jobs Market Showing Early Signs of Recovery
  
  The U.S. labor market is showing the earliest signs of recovery, according to Goldman Sachs Group Inc.
• Labor Stats May Signal Great Depression-Like Jobless Rate
  
  The devastation of the coronavirus pandemic on the U.S. labor market will be on display this week, with Friday's jobs report likely to show the unemployment rate soared to nearly 20% and employers cut millions more from their payrolls in May.
• Food Prices See Historic Jump, Likely to Stay High
  
  As if trips to the grocery store weren't nerve-wracking enough, U.S. shoppers lately have seen the costs of meat, eggs and even potatoes soar as the coronavirus has disrupted processing plants and distribution networks.
• Consumer Spending Drops Record 13.6% on Virus Lockdown
  
  U.S. consumer spending dropped by a record in April as the COVID-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression.
• Fed's Powell Fears 2nd Virus Wave, Vows to Keep Fighting Crisis
  
  Federal Reserve Chair Jerome Powell on Friday said a potential surge in U.S. coronavirus infections could derail the recovery from the deep downturn triggered by the pandemic, even as he reiterated the central bank's vow to keep fighting the crisis.

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