CNBC Economy

The economic fallout from the coronavirus hit the housing market hard in April.

Frustrations are mounting on Main Street due to a lack of guidance from the Small Business Administration on PPP loan forgiveness, a new survey shows.

The total, while still well above anything the nation had seen in pre-coronavirus America, represents the seventh straight week of a declining pace following the record peak of 6.9 million in late March.

The meeting, which ended April 29, concluded with the central bank's policymaking arm holding steady on interest rates and pondering future measures ahead.

More help will be needed from the Federal Reserve and Congress to get the U.S. economy through its current slump, Dallas Fed President Robert Kaplan told CNBC.

As states reopen, the focus has turned to whether smaller companies can find enough business to survive, preventing a wave of failures.

If mortgage demand is an indicator, buyers are coming back to the housing market far faster than anticipated, despite coronavirus shutdowns and job losses.

The CBO also projects 26 million more unemployed Americans than there were at the end of 2019.

Dimon detailed the steps his firm has taken to support customers and employees since the crisis began two months ago.

U.S. homebuilding dropped to a five-year low in April, underlining fears that the novel coronavirus crisis would lead to the deepest economic contraction in the second quarter since the Great Depression.

"We are committed to using our full range of tools to support the economy in this challenging time," Powell said in remarks he will deliver to the Senate.

After the sharpest one-month drop in the history of the index in April, homebuilder sentiment bounced back slightly in May as builders saw a quick rebound in interest from buyers.

The Fed noted that the recovery likely would depend on how Americans feel about their safety.

Former Trump advisor Gary Cohn said that a potential vaccine shouldn't stop the government from providing aid to parts of the country that have been hobbled by the economic shutdown.

White House senior advisor Kevin Hassett told CNBC on Monday he disagrees with Fed Chairman Jerome Powell on the time-frame for an economic recovery.

The U.S. may have experienced the worst of its coronavirus-related job losses in mid-April, and hiring could be on the verge of starting to recover, according to data gathered by LinkedIn and provided to CNBC.

The central bank chief conceded that jobless numbers will look a lot like they did during the 1930s.

The already dismal outlook for economic growth during the current period just got considerably worse.

U.S. consumer sentiment inched higher in the early part of May following massive stimulus measures undertaken by the government to sustain the economy amid the coronavirus pandemic, according to data released Friday.

The successful relaunch of the U.S. economy after the coronavirus shutdown will depend on how effectively companies treat the ills of the global supply chain.