Scott Horsley

Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.

Horsley spent a decade on the White House beat, covering both the Trump and Obama administrations. Before that, he was a San Diego-based business reporter for NPR, covering fast food, gasoline prices, and the California electricity crunch of 2000. He also reported from the Pentagon during the early phases of the wars in Iraq and Afghanistan.

Before joining NPR in 2001, Horsley worked for NPR Member stations in San Diego and Tampa, as well as commercial radio stations in Boston and Concord, New Hampshire. Horsley began his professional career as a production assistant for NPR's Morning Edition.

Horsley earned a bachelor's degree from Harvard University and an MBA from San Diego State University. He lives in Washington, D.C.

The coronavirus has dealt a body blow to U.S. workers. So far, it's women who are paying much of the price.

The Labor Department says more than 700,000 jobs were eliminated in the first wave of pandemic layoffs last month. Nearly 60% of those jobs were held by women.

As the United States tumbles into a coronavirus recession, the Federal Reserve is using its nearly unlimited power to generate cash to cushion the fall.

"The Fed is doing everything they can to keep financial markets functioning and credit available to households and firms," former Fed Chair Janet Yellen said during a forum organized by the Brookings Institution.

Updated at 10:09 a.m. ET

For the first time in nearly a decade, the U.S. suffered a net loss of jobs as the coronavirus began to take hold in the country. But a monthly snapshot from the Labor Department shows only the first pinpricks of what will soon be a gaping wound.

Factories in the U.S. are hunkering down like the rest of us.

Manufacturing activity slowed in March, according to a survey conducted by the Institute for Supply Management.

Production and factory employment fell sharply, as the coronavirus pandemic and other problems weighed on the factory sector. New orders hit their lowest level in 11 years.

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With millions of American workers suddenly idled in an effort to slow the spread of the coronavirus, the United States appears poised to go from the lowest unemployment rate in half a century to the highest since World War II.

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The toll of the coronavirus pandemic is steep - hundreds of thousands of confirmed infections around the world, tens of thousands of lives lost.

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Toilet tissue isn't the only paper product that Americans are hoarding these days. Paper money is also in high demand.

Banks are seeing more cash withdrawals as nervous customers try to protect themselves from the uncertainty of the coronavirus clampdown.

The U.S. economy has never hit the brakes quite like this before.

While the course of the coronavirus pandemic is unpredictable, forecasters are using their economic models and making some educated guesses about just how bad the damage will be. The forecasts are not pretty:

  • Oxford Economics expects the U.S. economy to shrink at an annual rate of 12% between April and June.
  • JPMorgan Chase sees a second-quarter contraction of 14%.

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Stocks fell deeper into the red this morning as investors tried to grapple with the economic cost of the coronavirus pandemic. Trading was briefly halted just minutes after the opening bell, when the S&P 500 index plunged by seven percent. Last night, President Trump announced new measures to try to contain the virus and shore up the economy.

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