CNBC Economy

Dallas Federal Reserve President Robert Kaplan said the U.S. economic growth will accelerate next year as the country rebounds from the coronavirus crisis.

U.S. consumer prices rebounded in June after three straight monthly declines as businesses reopened, but the underlying trend suggested inflation would remain muted and allow the Federal Reserve to keep injecting money into the ailing economy.

The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues.

A sharp decline in the supply of existing homes for sale, increasing consumer preference for brand-new, high-tech homes with all the amenities for working and schooling, as well as an accelerating flight to the suburbs and exurbs, made for remarkable housing demand in June.

These five charts illustrate trends in important industries that help track reopening progress in the U.S.

Surging coronavirus cases are showing up in both a slowdown of current economic activity as well as future plans, according to real-time data tracking things like job listings, dining out and vacations.

"If we all wore a mask, it would substantially mute the transmission of this disease and we would grow faster," he added.

U.S. producer prices unexpectedly fell in June as the economy battles depressed demand amid the Covid-19 pandemic.

Data from staffing firms that track hourly employees show job growth may have stagnated or even declined in recent weeks.

Weekly jobless claims were lower than expected last week as workers slowly returned to their jobs in the wake of rising coronavirus cases.

"Over the past week or so, there's been some leveling off, and I think it's probably due to the increase in cases not only in Ohio but across the country," Mester said.

Atlanta Federal Reserve Bank President Raphael Bostic said the U.S. economic recovery is in danger of stalling due to the recent spike in coronavirus cases across many American states.

The Federal Reserve has a role to play in ending systemic racism, in the view of the central bank's first Black regional president

The bank's economists now see third-quarter gross domestic product rising by 25% on an annualized basis.

Stocks rose on Thursday following a better-than-expected U.S. jobs report as the economy tries to recover from the coronavirus pandemic.

Another big contributor to the decline of the jobless rate was a plunge in those on temporary layoff. That total fell by 4.8 million in June to 10.6 million after a decrease of 2.7 million in May.

The share of the workforce currently out of work with no reasonable chance of returning to their jobs is about 11%, or about 17.6 million people, according to new reserach from the Economic Policy Institute.

U.S. vehicle sales in the second quarter for General Motors, Toyota Motor and Fiat Chrysler plunged by more than 30%

The surge in mortgage demand from homebuyers over the past two months appears to be waning, even as mortgage rates continue to drop.

St. Louis Federal Reserve Bank president James Bullard has warned that a growing number of bankruptcies due to the coronavirus outbreak could lead to a financial crisis, the Financial Times reported.