Household debt balances through March totaled $14.3 trillion, a 1.1% increase from the previous quarter and now $1.6 trillion clear of the previous nominal high of $12.7 trillion in the third quarter of 2008 during the financial crisis,

"More policy support will be needed from the Fed and possibly also fiscal policy. It just depends on how this evolves," Clarida told CNBC.

Democrats are pushing for at least one more round of direct payments during the coronavirus crisis after many voters got $1,200 stimulus checks.

An auction May 20 will feature a sale of $20 billion worth as part of an effort to push the record-setting debt levels further out in terms of duration.

Private payrolls hemorrhaged more than 20 million jobs in April as companies sliced workers amid a shutdown that took most of the U.S. economy offline, according to a report Wednesday from ADP.

"This is not a situation where you can go to the American people and say, 'How many lives are you willing to lose to reopen the economy?' We don't want to lose any lives," Cuomo said.

The new daily testing policy for the president and the people in his circle comes hours after the White House acknowledged that a personal valet for Trump tested positive for Covid-19.

Stock futures rise as traders look past the jobs collapse and take comfort in new promises from U.S. and China trade negotiators.

Covid-19 has infected more than 3.8 million people around the world as of Friday, killing at least 269,881 people.

"We will all be supply constrained for quite some time, meaning we won't be able to make as many product as will be required to vaccinate everyone on the planet," CEO Stephane Bancel said on CNBC's "Squawk Box."

Sorrento Therapeutics and Mount Sinai Health System in New York City have joined forces to develop an antibody cocktail they hope will shield against Covid-19 infection for up to two months.

Trump said he's not to blame after the Labor Department reported a devastating loss of more than 20 million jobs in the coronavirus crisis last month.

Three Senate Democrats are urging Treasury Secretary Steven Mnuchin to crack down on airlines that are cutting employee hours, despite billions in federal coronavirus relief.

Most experts agree that Covid-19 testing is vital to safely reopen the economy. But getting to scale presents challenges, they say.

On Wednesday, Cuomo said most new Covid-19 hospitalizations in New York state are from people who were staying home and not venturing much outside.

Vice President Mike Pence got roasted after being caught by a live microphone jokingly offering to carry empty boxes "just for the camera" into a health-care facility treating coronavirus cases.

New York is investigating how Covid-19 impacts children after a 5-year-old boy in New York City died due to coronavirus-related complications, Gov. Andrew Cuomo said Friday.

"San Diegans, just like others in California, do not want to give back the tremendous gains that we've made, the sacrifices that we've made over these last six weeks," Mayor Kevin Faulconer said.

Russia marks the 75th anniversary of Soviet victory over Nazi Germany in World War Two on Saturday, but the coronavirus outbreak means that celebrations have been pared back massively.

Adam Ereli, Vice Chairman, Washington D.C. at Mercury, explains why he isn't very optimistic about diplomatic solutions in the Russia-Ukraine standoff.

Mebane Faber, CIO at Cambria Investment Management, explains why he thinks stocks from Greece, Ireland, Russia and Spain are more attractive than U.S. equities.

Can South Korea's first foreign-owned casino give casino hotspots like Vegas and Macau a run for their money? CNBC's Julia Wood, Susan Li and Bernie Lo discuss.

CNBC's Mary Thompson reports on bitcoin's biggest transaction thus far: a luxury villa in Bali.

Lu Ting, Greater China Economist at Bank of America Merrill Lynch, dismisses the possibility of the yuan falling to 6.4 against the greenback.

Somshankar Sinha, Director, Asia ex-Japan Oil & Gas Research at Barclays, highlights the firm's lower capex spending as a key area to look out for in the year ahead.

Sri Mulyani Indrawati, COO & Managing Director at the World Bank, says China's attempt to shift its economic model will require many policy adjustments.

Alaistair Chan, Economist at Moody's Analytics, attributes the weak data to monetary tightening last year.

Alexander Feldman, President at US-ASEAN Business Council, says U.S. President Barack Obama has been successful in trying to forge closer ties with the Asian region.

CNBC's Julia Wood and Adam Bakhtiar discuss the possibility of Beijing moving in on fresh stimulus measures to prop up its economy.

Monica Kelly, Partner at Ribbeck Law Chartered, explains the firm's filing of a court petition against Malaysia Airlines and Boeing for the disappearance of the former's flight 370.

Francis Gaskins, director of research at Equities.com, discusses why Candy Crush game maker, King Digital Entertainment, fell nearly 16 percent on its trading debut.

Asian stocks were mostly higher Wednesday, boosted by overnight gains on Wall Street and unveiling of China's official 2014 GDP growth target.

A new Cold War is emerging from the ongoing U.S.-China geopolitical tensions, says Clete Willems, an Akin Gump partner and former White House official. He cites the "growing frustration" with China's economic policies and resistance to investigations for its alleged coronavirus involvements.

As many as 260 million people risk being on the brink of starvation as economies deteriorate and supply chains break down worldwide due to the coronavirus pandemic, says David Beasley, the United Nations World Food Programme's executive director.

Warren Patterson of ING explains why he sees a rebound in oil prices next year.

The potential trade deal with the U.S. is very important for the U.K, but the negations will probably be challenging and drawn-out due to issues such as agricultural, data flows, and intellectual property, says Joshua Meltzer of the Brookings Institution.

Singapore needs sustainable measures in its "prolonged battle" against the coronavirus, so that the country can ease out of its "circuit breaker" period to resume normal activities safely, says Lawrence Wong, second minister for finance, minister for national development and co-chair of the multi-ministry taskforce on Covid-19.

It will be difficult for U.S. President Donald Trump to backtrack on the U.S.-China "phase one" trade deal after previously lauding it as "the best deal ever made", says Jeffrey Kleintop of Charles Schwab, adding that March trade data shows a pickup in U.S. exports to China.

Singapore learned from the coronavirus pandemic that its migrant workers' dormitories need redesigning to prevent future outbreaks, says Lawrence Wong, second minister for finance, who is also co-chair of the country's Covid-19 task force.

Migrant workers living dormitories have accounted for around 87.6% of Singapore's total 19,410 confirmed cases as of Tuesday, according to the health ministry.

Ronny Gal of Sanford C. Bernstein says he thinks remdesivir will not be the most significant revenue contributor for Gilead Sciences over time. He also explains his rationale for raising the company's price target to $75 from $72.

Roughly 60% to 70% of Didi Chuxing's business has bounced back from the coronavirus crisis in China, says Jean Liu, president of the mobile app-based transportation firm.

Markets are unlikely to react to bad economic data in the second quarter, says Brian Belski of BMO Capital Markets, adding that any volatility seen near-term will be from a resurgence in U.S.-China trade tensions.

Angelo Zino of Equity Research tells CNBC's Squawk Box Asia that Uber and Lyft will not likely see significant recovery until a vaccine is found amid the uncertainty of the coronavirus pandemic.

Gregory Daco of Oxford Economics says he expects the U.S. unemployment rate to go up to 17% in April, reflecting a loss in income that will weigh on consumer spending and subsequent economic recovery.

Australia has started plans on re-opening its economy after a period of social distancing. Ivan Colhoun of the National Australian Bank suggests looking to fiscal stimulus to cushion the hit to their economy, and to keep an eye on how lower immigration may slow the economy in the long term.

Jian Chang of Barclays Asia Pacific says medical supplies are a key factor driving the increase in China's export numbers. Jian Chang also explores the worsening U.S.-China relationship in recent weeks amid the coronavirus crisis, with the trade agreement being a key focal point.

In contrast to the U.S., countries in North Asia and Australia had "very convincing containment" of the coronavirus crisis, making them more likely to achieve a "very sharp" economic rebound post-pandemic, says Deutsche Bank's Michael Spencer, chief economist and head of research for the Asia-Pacific.

Dow futures drop Thursday after another avalanche of weekly jobless claims and a crush of earnings.

Daimler, which owns Mercedes-Benz, says it took "robust and best practice safety measures" to ensure that the reopening of the plant was safe for its 4,200 workers.