Economy

Trump, Kemp And America’s Political Divide : NPR

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Coronavirus Latest: Trump, Kemp And America’s Political Divide : NPR

The tension in America between the national government and states' rights is as old as the republic itself. That tension is about to play out in a starkly political way and on a grand scale over the next several weeks, as states consider how to reopen in the midst of the novel coronavirus pandemic.

President Trump seems to be itching for states to reopen — frankly, faster than his own administration's guidelines recommend.

Coronavirus Live Updates : NPR

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JPMorgan Chase, Wells Fargo Profits Crater As They Brace For Defaults : Coronavirus Live Updates : NPR

Two of the nation's biggest banks reported plummeting profits during the first three months of the year as they sought to prepare for an onslaught of defaults in debt that ranged from credit cards and mortgages to business loans.

The country's largest bank, JPMorgan Chase, said its profit fell by 69% as it set aside $8.2 billion — the largest amount since 2010 — to prepare for defaults.

Spotlight News – 40 Bethlehem businesses at risk of closing, Chamber survey reports

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Spotlight News – 40 Bethlehem businesses at risk of closing, Chamber survey reports

According to a press release on Thursday, April 9, around 86 businesses (95 percent) reported a negative economic impact, 40 businesses (44 percent) reported they’ve laid off employees and 31 businesses (34 percent) reported supply chain problems. Such supply chain problems included increased prices on supplies and shipping delays.

The survey also found that all the surveyed businesses have operated for 21 years on average. The press release did not name the businesses that took the survey though.

Where Do We Get $2,000,000,000,000? : Planet Money : NPR

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Episode 985: Where Do We Get $2,000,000,000,000? : Planet Money : NPR

Now is not the time for finely crafted solutions. The economy is in crisis, and Congress is tackling it by doing what they do best: Spending inconceivable amounts of money.

The economic rescue package coming out of the Senate will send an avalanche of cash to small businesses, large corporations, state and local governments — and, mostly importantly, regular Americans. Almost everyone will have more money in their pockets, but where exactly will that money come from?