Sep 8, 2017

WH addresses GOP backlash from Trump's deal with Democrats

White House press secretary Sarah Huckabee Sanders calls on a reporter during the daily press briefing. Photo: Evan Vucci / AP

Sarah Sanders' Friday briefing largely focused on the backlash President Trump has faced from his own party following the debt ceiling deal he made with Nancy Pelosi and Chuck Schumer. Sanders told reporters that Trump's focus is doing what is best for the American people, and said he plans to "continue working with whoever is interested to keep the ball moving forward."

  • On the criticism coming from Republicans: "We are less concerned with what makes Congress happy and more concerned with what makes America better and stronger."
  • On DACA changes: Outside of circumstances where there is criminal activity, the president is clear there will be no change over next six months.

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Fed will lend up to $2.3 trillion amid coronavirus crisis

Fed Chairman Jerome Powell at a press conference in March. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve announced Thursday that it will support with the coronavirus-hit economy with up to $2.3 trillion in loans to businesses, state and city governments — made possible by Treasury funds set aside in the government stimulus package.

Why it matters: The Fed has taken more action amid the coronavirus outbreak than it has in any other financial crisis in U.S. history in an effort to blunt the effects of the resultant economic shutdown.

Another 6.6 million jobless claims filed last week amid coronavirus crisis

Photo: Mandel Ngan/AFP via Getty Images

Another 6.6 million Americans filed for unemployment last week, the Labor Department announced Thursday.

Why it matters: It adds to the staggering 10 million jobless claims in recent weeks — by far the sharpest spikes in American history — as the world economy has ground to a halt in an effort to contain the coronavirus outbreak.

Yelp cutting 1,000 jobs, furloughing others

An image from a Yelp donation program launched in the wake of Covid-19. Photo: Yelp

Yelp told employees Thursday that it is cutting 1,000 jobs and furloughing another 1,100 workers amid a massive drop in its business.

Why it matters: Yelp is the latest company catering to small businesses that has seen much of its customer base decimated amid the COVID-19 outbreak and related shutdowns.