CNBC Economy

Job gains in November are expected to be weaker than in October, reflecting the impact of virus-related shutdowns by states and local governments.

Continuing pandemic jobless relief into the next year could boost GDP by 3.5% and increase total personal income by more than $440 billion.

First-time claims for unemployment benefits totaled 712,000 last week, compared with 787,000 a week earlier and the Dow Jones estimate of 780,000.

Kaplan said he wouldn't be in favor of changing the bond-purchasing program even though he sees rocky times ahead for the economy.

Mortgage applications to purchase a home jumped dramatically last week as interest rates sat at a record low, and buyers didn't take a holiday.

Companies hired 307,000 workers for the month, ADP said, well below the 475,000 estimate from a Dow Jones survey of economists.

China's economic gains place it ahead of the U.S. and other regions in achieving growth after the pandemic, according to the Q4 CNBC Global CFO Council Survey.

Mistakes have moved in both directions, with recipients sometimes undercounted and at other times overcounted, according to the GAO.

Strong, pandemic-induced demand for housing is still there, but buyers may now be hitting an affordability wall.

Mortgage interest rates have set record lows more than a dozen times this year, and last week there was yet another. That caused mortgage applications to rise.

Claims totaled 778,000 for the week ended Nov. 21, ahead of the 733,000 expectation from economists surveyed by Dow Jones.

Wall Street had been expecting a positive first quarter and improving growth next year.

Sales of existing homes in October soared well past expectations, rising 4.3% compared with September and 26.6% annually.

First-time filings for unemployment benefits totaled 742,000 last week vs. the Wall Street estimate of 710,000.

Even with the prospects of at least two vaccines, Bostic said there are multiple pockets of the economy that will need assistance.

Powell said he worries about women, children and business owners who face long-term consequences from the coronavirus.

Jobless claims totaled 709,000 last week, below the 740,000 Wall Street forecast.

Eric Rosengren, president of the Federal Reserve Bank of Boston, told CNBC the next six months will be "pretty choppy" despite covid vaccine news.

The U.S. economy can't depend on a coronavirus vaccine to "solve all our problems," said Carl Tannenbaum, chief economist at Northern Trust.

Fed Chairman Jerome Powell is likely to reiterate the need for fiscal stimulus to help the economy recover.