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Elizabeth Warren accuses airlines and the Treasury Department of violating bailout terms as major airlines cut workers’ take-home pay

Sen. Elizabeth Warren asked Treasury Sec. Steven Mnuchin why airlines were being permitted to cut work hours despite terms in the bailout package.
U.S. President Donald Trump responds to a question about the Department of Health and Human Services Inspector General's report on the shortage of novel coronavirus tests for hospitals during the daily coronavirus task force briefing at the White House in Washington, U.S., April 6, 2020.

Trump is using the coronavirus as a cover to bully the government’s watchdogs into submission. It’s shameful and dangerous.

Trump is using the fog of the coronavirus pandemic to wage an all-out assault on oversight, and signal to his base that he's infallible.
Dallas Federal Reserve Bank President, Robert Kaplan, stands on a stage at Stanford UniversityÕs Hoover Institution where he is attending an annual monetary policy conference in Stanford, California, U.S., May 4, 2018.

Another stimulus bill is likely needed to revive the economy, Dallas Fed president says

Fiscal relief can only drive so much of a recovery, Robert Kaplan said, noting that testing plays a critical role in lifting consumer confidence.

United’s CEO hints the airline could avoid layoffs if employees are willing to take huge cuts in their work hours instead

United Airlines CEO Scott Kirby said the airline would work with unions to agree to hours reductions as a way to avoid layoffs.

Nobel laureate Joseph Stiglitz sees prolonged double-digit US unemployment without further government aid

"We have a very weak labor market," Stiglitz told Bloomberg television in a Monday interview. He added that the US unemployment rate is moving to 25%.

Of course Republicans will pass another stimulus bill (but they have to grumble first)

Republicans will agree to another pandemic rescue package, but it may not look exactly like the House Democrats' $3 trillion relief package.

Many of the world’s airlines could be bankrupt by May because of the COVID-19 crisis, according to an aviation consultancy. These airlines have ...

Airlines have already folded or gone bankrupt thanks to the coronavirus pandemic, but that number could grow substantially.

A Florida airline could go under because the US Treasury Department held up its bailout money, a union leader says

Miami Air International, a Florida charter airline, is expected to liquidate due to the coronavirus this week. It applied for a bailout.
Minneapolis Fed President Neel Kashkari speaks during an interview at Reuters in New York

‘The worst is yet to come’: The Fed’s Kashkari issues a grim outlook for US jobs, and urges more assistance from Congress

"If this is a gradual recovery the way I think it's going to be, those folks are going to need more help," said Neel Kashkari.

Unemployment surged to 14.7% in April as the US lost a record 20.5 million jobs

The report showed just how quickly the coronavirus pandemic and the subsequent economic shutdowns decimated the US labor market.