CNBC Economy

"They want to be part of the solution this time," said one analyst.

A spike in interest rates abruptly ended the refinance boom, pushing mortgage application volume down 8.4%, the Mortgage Bankers Association said.

The order from Democrat Steve Sisolak Tuesday night follows similar moves by more than 10 other governors as states scramble to mitigate the risk of exposure to COVID-19.

In the central bank's latest effort to keep credit markets flowing, the Fed announced a Primary Dealer Credit Facility, which will provide up to 90 days.

Labor unions and some lawmakers want worker and consumer protections if airlines get more than $50 billion in government aid to fight the impact of the coronavirus.

The White House is seeking a stimulus package worth anywhere from $850 billion to over $1 trillion in a bid to battle the economic impact from the coronavirus pandemic.

"We're hiring every day," Kroger CEO Rodney McMullen told CNBC.

In a move much anticipated on Wall Street, the bank announced a special credit facility to purchase corporate paper.

Retail sales fell 0.5% in February, indicating the consumer sector was slowing even before the coronavirus struck with force in the U.S.

Morgan Stanley warned investors on Tuesday that the coronavirus pandemic is fundamentally disrupting the world's economy.

Even if every American is given $1,000 to ride out the coronavirus crisis, it's still going to be difficult for the U.S. economy to stay afloat, said Andrew Levin, a former special advisor to the Federal Reserve Board.

"The coronavirus outbreak has harmed communities and disrupted economic activity in many countries," the Fed said.

The U.S. should follow Hong Kong's lead and give a cash handout to its citizens amid the coronavirus pandemic, a strategist told CNBC Friday.

The Federal Reserve announced it will begin buying $200 billion of mortgage-backed bonds, a move that will stabilize and likely lower mortgage rates, which moved sharply higher last week.

Goldman Sachs sees no economic growth for the U.S. as the coronavirus outbreak roils markets and business activity.

The central bank chair said he is focusing on interest rates and other "liquidity tools" to keep credit flowing and financial markets operating properly.

"We will maintain the rate at this level until we're confident that the economy has weathered recent events," Powell said.

Treasury Secretary Steven Mnuchin is confident the U.S. economy will weather the downturn from the coronavirus outbreak.

"Now the good news is not all bear markets occur in recessions," a strategist said.

All the risk assessment and economic modeling in the world is futile if it can't anticipate the one variable that matters most - particularly if it's a pandemic.