“WASHINGTON (AP) — The U.S. economy grew at a sizzling 33.1% annual rate in the July-September quarter — by far the largest quarterly gain on record — rebounding from an epic plunge in the spring, when the eruption of the coronavirus closed businesses and threw tens of millions out of work. Yet the recovery from the deepest recession since the Great Depression of the 1930s remains far from complete. The Commerce Department’s estimate Thursday of third-quarter growth regained only about two-thirds of the output that was lost early this year when the economy essentially froze as safety orders forced restaurants, bars and many retailers to shut down. The economy is now weakening again and facing renewed threats. Confirmed viral cases are surging. Hiring has sagged. Government stimulus has run out. With no further federal aid in sight this year, Goldman Sachs has slashed its growth forecast for the current fourth quarter to a 3% annual rate from 6%. “We have a pretty noxious brew developing with the pandemic intensifying, the lack of any further government stimulus and signs showing that the economy is already slowing pretty significantly,” said Mark Zandi, chief economist at Moody’s Analytics. Thursday’s estimate of GDP growth is the last major economic report before Election Day, after a campaign that President Donald Trump has sought to build around his economic record before the pandemic hit. Trump has drawn generally solid public support for his handling of the economy. Though the unemployment rate, at 7.9%, is down significantly from 14.7% at the start of the pandemic recession, it is still historically high. And hiring has slowed for three straight months. The economy is still roughly 10.7 million jobs short of recovering all the 22 million jobs that were lost to the pandemic.
Fox News’ Geraldo Rivera: Trump’s Not Speaking To Me Right Now
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["Fox News’ Geraldo Rivera said Tuesday that President Donald Trump isn’t speaking to him because he acknowledges the fact that President-elect Joe Biden won the election. The conservative commentator, who has describ...
Trump Administration Lowballs Unemployment Benefits In New COVID-19 Offer
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["The latest stimulus offer from the White House comes with one-time $600 payments for most Americans and a lump of coal for the unemployed. The new proposal offered by Treasury Secretary Steve Mnuchin swapped the $3...
Biden Selects Marcia Fudge As Housing Secretary, Tom Vilsack For Agriculture
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["WASHINGTON (AP) — President-elect Joe Biden has selected Ohio Rep. Marcia Fudge as his housing and urban development secretary and former Agriculture Secretary Tom Vilsack to reprise that role in his administration,...
Trump: Millions Of Americans Getting COVID-19 Is ‘Terrific’ And A ‘Powerful Vaccine’
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["President Donald Trump on Tuesday spun the high number of Americans who have been infected with COVID-19 as “terrific,” claiming falsely that all those cases serve as a “powerful vaccine.” “I think that the vaccine ...
How To Deal With The Co-worker Who Is Constantly Complaining
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[]["fizkes via Getty ImagesComplainers may go to you because they feel like they are not being heard anywhere else. Here's how to treat their grievances with compassion.Everyone encounters a constant complainer at som...
MSNBC Names Rashida Jones President, Making History For Major Cable News Networks
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["MSNBC has named Rashida Jones its next president, making her the first Black executive to run a major general news cable network, The Wall Street Journal reported. Jones, who currently serves as the senior vice pres...
Bill Nye Explains Why Masks Keep Viruses In Those Pesky ‘Droplets Of Spit And Snot’ At Bay
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["Bill Nye explained the science behind face masks in a TikTok video posted on Friday, stressing that their effectiveness in stopping the spread of the coronavirus “is not that hard to understand.” Nye shared two map...