Samsung aims to lift its sinking smartphone sales with three new models that will test consumer willingness to buy high-priced gadgets during the worst economic downturn since the Great Depression. Such phones are intended for buyers who are strapped for cash or unwilling to pay for pricey phones that don't offer big advances over their predecessors. The upcoming foldable phone, meanwhile, is something of a do-over for Samsung. Samsung is promises that the Z Fold2 will far more durable because it will have ultra-thin glass and tougher hinges for unfolding the device. Consumer response to these phones might foreshadow demand for the next wave of iPhones.

Smaller companies, many of which have endured severe damage from the shutdowns forced by the coronavirus, might now find the Main Street program more appealing. Under the Main Street lending program, banks make loans to businesses; the Fed then buys the loans from the banks. Collectively, the changes suggest that the Fed might be having trouble attracting borrowers for the Main Street program. Chair Jerome Powell previously said the Main Street program would start making loans on June 1 or shortly after, but it has not yet done so. On Monday, the Fed said the program would start registering banks soon and will then buy loans shortly afterwards.

The Fed's Main Street Lending is geared toward medium-sized companies that are too large for the government's small business lending program and too small to sell bonds or stock to the public. Powell noted that the complexity of the program goes far beyond the Fed's usual lending efforts, which typically involve buying bonds. It is far and away the biggest challenge of the 11 facilities we have set up, Powell said. It has also announced 11 separate lending programs that are intended to support borrowing by businesses, banks and households. Still, Powell has previously said the unemployment rate is likely to peak at between 20% and 25% in May or June.

Without a vaccine to prevent the coronavirus disease, economists warn the downturn in the leisure and the hospitality industries is just beginning. On Friday, the feds reported the unemployment rate surged to 14.7% -- erasing a decade of job gains in one month. Some economists estimate the U.S. unemployment rate actually nears 24%. Without a vaccine, economists expect a lot of false starts. I fear that we are going to see yet another round of layoffs even as workers are called back.”More expert opinions: