Economics | Texas Public Radio


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An estimated 37 million domestic jobs could be lost in the U.S. due to temporary shutdowns related to the COVID-19 pandemic, which had infected more than 318,000 people and claimed nearly 14,000 lives worldwide as of Sunday afternoon. from Pexels CC0

There are multiple indicators of a still-healthy U.S. economy, but others that signal the possibility of a looming recession. What should you know about the national economy's ebb and flow and how to financially prepare for a recession?

In early April, Governor Greg Abbott, Lieutenant Governor Dan Patrick and Speaker Dennis Bonnen announced that they will support a proposal to raise the sales tax in Texas and use those proceeds to cut property taxes.

Updated at 4:03 p.m. ET

Despite enormous pressure from President Trump, the U.S. Federal Reserve announced Wednesday it is increasing interest rates by a quarter point.

The Fed said in a statement it is raising the key borrowing rate to a range of 2.25 percent to 2.50 percent — the highest level in a decade, when the economy was in the early stages of the financial crisis and the beginning of the Great Recession. The Dow ended the day down 352 points, or 1.5 percent, after the Fed announcement. The index was up nearly 300 points earlier.

Houghton Mifflin Harcourt

Why are more Americans turning from commercial banks to alternative financial services?

Updated at 12:01 p.m. ET

John Forbes Nash Jr., the Nobel laureate known for his groundbreaking work on game theory and differential equations, was killed along with his wife in a taxi crash on the New Jersey Turnpike, police say. He was 86.

His death was first reported by citing a police official. NPR has confirmed the report through longtime colleague Louis Nirenberg. The couple were killed on Saturday.