CNBC Economy

House Speaker Nancy Pelosi told CNBC on Wednesday that additional financial aid to Americans is needed to support the U.S. economy's recovery from the coronavirus-induced recession.

The increase came after sharp declines over the previous three months due to the coronavirus pandemic. Sales were still 11.3% lower annually.

Former Federal Reserve Vice Chairman Alan Blinder said Wednesday that cutting government aid during the coronavirus pandemic would be a "catastrophic mistake."

Moody's Analytics' Mark Zandi estimates what's needed to avert a double-dip recession.

Homebuyer demand and an already strong refinance market pushed mortgage application volume up 4.1% last week, the Mortgage Bankers Association said.

A large number of small businesses that closed in March — when restrictions around social movements when into effect — are not going to reopen even when the situation improves, according to Raghuram Rajan.

Data from scheduling firm Homebase shows that the labor market recovery has reversed in some of the states hardest hit by the virus, including Florida and Texas.

"If we all cared about our fellow citizens a little more, we will be resolving this crisis much sooner," BlackRock CEO Larry Fink told CNBC.

Construction of U.S. homes jumped 17.3% in June as some states reopened, but the pace still lags last year after this spring's massive slowdown in building activity due to the coronavirus outbreak.

To find a V-shaped recovery from the economic wreckage of the coronavirus pandemic, look to the nation's single-family homebuilders.

The number of Americans who filed for unemployment benefits rose more than expected last week as the country continues to grapple with the economic impacts of the coronavirus pandemic.

U.S. retail sales increased more than expected in June, but the budding economic recovery is being threatened by a resurgence in new Covid-19 infections and high unemployment.

June retail sales are expected to have gained 5.2% as the economy reopened, but sales could have trailed as the coronavirus outbreak worsened.

A new report in the peer-reviewed medical journal The Lancet expects the global population to peak at 9.7 billion by the year 2064.

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.