Weekly Jobless Claims Jump To 885,000

The transcript discusses the economic impact of COVID-19, highlighting rising unemployment and the lack of relief in the labor market. It mentions potential congressional relief efforts, including extending unemployment benefits and aiding small businesses. Federal Reserve Chairman Jerome Powell warns of tough months ahead but is optimistic about economic recovery due to promising vaccine developments.

What was the highest weekly total of unemployment claims mentioned in the text?

What are the two elements mentioned that could relieve pressure on jobs?

What did Federal Reserve Chairman Jerome Powell warn about the economy in the next few months?

What promising developments did Powell mention regarding the vaccine?

What is expected to happen to businesses in the second half of the next year according to the text?