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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 14, 2020
Page
12
The Federal Reserve signaled it will hold the federal funds rate near zero through 2022 and continue about 120 billion dollars in monthly bond purchases to support a fragile economy. Chair Jerome Powell noted uncertainty about the path ahead and the need to do more to spur spending and growth.
Greg Glassman the founder and CEO of CrossFit is retiring amid social media backlash over a tweet tying George Floyd to the coronavirus pandemic. Reebok cut ties with CrossFit as several affiliates terminated relationships following the controversy. Glassman had apologized earlier and denied racism, saying the remarks were a mistake.
About 1.5 million people filed for U.S. unemployment benefits last week, the Labor Department says, the 10th straight weekly decline but still a historically high level. The data shows a slow recovery as employers added 2.5 million jobs in May while layoffs remain widespread.
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