Weekly Jobless Claims Jump To 885,000

The transcript discusses the economic impact of COVID-19, highlighting rising unemployment and the lack of relief in the labor market. It mentions potential congressional relief efforts, including extending unemployment benefits and aiding small businesses. Federal Reserve Chairman Jerome Powell warns of tough months ahead but is optimistic about economic recovery due to promising vaccine developments.

What was the highest number of weekly unemployment claims in three months?

• 900,000

• 885,000

• 1,000,000

• 750,000

What are the two main components of the new congressional package discussed?

• Unemployment benefits and aid to small businesses

• Tax cuts and infrastructure spending

• Healthcare funding and education grants

• Defense spending and foreign aid

What did Federal Reserve Chairman Jerome Powell warn about the economy?

• There will be no impact from the pandemic

• The next few months could be challenging

• Interest rates will rise significantly

• The economy will fully recover in a few weeks

According to Jerome Powell, what is promising for the economy's future?

• Increased consumer spending

• Rising stock market

• Vaccine developments

• New trade agreements

When does Jerome Powell expect the economy to perform strongly?

• In two years

• Second half of next year

• First half of next year

• End of this year