CNBC Economy

C3 is leasing shuttered restaurants and hiring 1,000 employees for its ghost kitchens in an effort to meet consumer demand for food delivery.

U.S. import prices dropped by the most in more than five years in March amid declines in the costs of petroleum products and a range of other goods, pointing to import deflation that could deepen amid the coronavirus pandemic.

As unemployment surges and more Americans struggle to make ends meet, more homeowners are applying for the government's mortgage forbearance program under the recently-passed coronavirus relief plan.

The governors, led by Andrew Cuomo, announced the coronavirus group hours after President Donald Trump claimed in a tweet that he, not state leaders, has the power to decide when to "open up" country.

The Fed has acted while Congress has continued to squabble.

CNBC's Jim Cramer said Monday the slow rollout of promised small business loans is unfairly putting more burden on small business owners.

"We have mostly undisbursed loans at this time" said Tony Wilkinson, president of the National Association of Guaranteed Government Lenders.

JPMorgan Chase, the country's largest lender by assets, is raising borrowing standards this week for most new home loans as the bank moves to mitigate lending risk stemming from the novel coronavirus disruption.

The Trump administration's tariffs on imported medical equipment, particularly from China, have added to the struggle in the U.S.'s fight against the coronavirus outbreak.

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.