CNBC Economy

Kashkari's comments came days after the Labor Department reported that another 6.6 million Americans filed first-time unemployment claims in the past week.

Fauci's hopeful remarks came less than a day after the U.S. counted more than 20,000 deaths from the disease, surpassing Italy as the nation with the highest number of recorded deaths in the world.

The moves go beyond anything the Fed during the financial crisis in 2008-09, both in scope and speed.

The programs also direct expanded credit to small businesses, households and state and local governments.

"This is what is needed because we've got to fight off a depression," CNBC's Jim Cramer said.

Treasury Secretary Steven Mnuchin said that he believed it was possible that the U.S. could open back up next month, following the effective halt of the economy because of the coronavirus.

The Microsoft co-founder sees poor students getting hit the hardest as schools close down across the U.S.

That brings the total claims over the past three weeks to more than 16 million.

The new claims for weekly unemployment benefits could bring the number of Americans filing to more than 15 million in three weeks.

Not only did members believe it was important to use all their rate power now, but also that they intend to keep rates anchored at the bottom for the foreseeable future.

By some estimates, it will take until 2023 or even longer to bring the labor market back to where it was just week ago in February.

It was the first decline in payrolls since September 2010 and came close to the May 2009 financial crisis peak of 800,000.

As the SBA prepares to start accepting applications for payroll relief loans on Friday, business owners are confused about the program's details.

Activity in the U.S. services sector slowed down in March as business grapple with the coronavirus outbreak, data released Friday by the Institute for Supply Management showed.

A generation of risk-averse supersavers could emerge from the fallout of the coronavirus crisis and potentially reshape the economy, experts have said.

The number of weekly unemployment claims filed in the U.S. could soon exceed 8 million as the fallout from widespread shutdowns amid the coronavirus pandemic continues to worsen, one economist told CNBC on Friday.

First-time claims for unemployment insurance had been expected to total 3.1 million, according to economists surveyed by Dow Jones.

When the coronavirus pandemic eventually subsides, the economic impact will be felt unevenly from one part of the country to another. The regions feeling the biggest impact may also see the fastest growth when they recover, according to an analysis Wednesday from IHS Markit. Here are state-by-state job loss projections from the analysis:

The Boston Fed president still expects big hits from coronavirus on the economy, particularly employment.

For most mortgage borrowers, the first of the month is payment day. This month, however, is a very different story. Millions of borrowers have either lost jobs or income, and are suddenly struggling to make those monthly payments.