THE SERIES EXPLORES THE FINANCIAL TOLL OF THE PANDEMIC ON  JOBS, SMALL BUSINESSES AND VIRTUALLY EVERY INDUSTRY

CBS News is focusing on the economic impact of COVID-19 across the country with “Financial Fallout,” a new division-wide series of reports that go deep into how the pandemic has upended everything moneywise, from jobs to the world’s money markets, and the efforts of small businesses trying to stay afloat in uncertain times. The series will be ongoing, tracing the economic fallout hitting every community and industry for the foreseeable future.

Using the resources of CBS News’ coast-to-coast team of journalists, CBS News will bring the stories of everyday Americans struggling to deal with the economic pandemic that has emerged from the health pandemic. The immersive reporting will bring stories of challenges and hope, struggles and successes, from the impact the loss of a mom-and-pop shop has on a community, to how business owners are taking pay cuts to keep their businesses alive.

“Americans are really hurting, and we think it’s important to drill down on the financial impact this pandemic is having on people across this country – many of whom are now facing unthinkable hardships and decisions,” said Kim Godwin, EVP, CBS News. “We hope to provide a platform for their concerns to be heard and a platform for solutions.”

Here’s a sampling of how CBS News platforms are reporting “Financial Fallout”:

CBS THIS MORNING (7:00-9:00 AM) will have extended coverage of the financial fallout, including Tony Dokoupil’s continuing coverage of small business and the interconnected economy. In a report airing Thursday, Dokoupil follows one company whose struggles trickle down and have an impact on other businesses and families as the lockdown continues. Plus, consumer national investigative correspondent Anna Werner looks into how the restaurant industry, which employs millions of Americans, stays afloat when diners are staying home. In addition, CBS News business analyst Jill Schlesinger continues to answer questions from viewers about the economy and what the crisis means for their pocketbooks and 401Ks.

The CBS EVENING NEWS WITH NORAH O’DONNELL (6:30-7:00 PM) will investigate if the federal “Paycheck Protection Program” is working for America’s small businesses. The broadcast will also examine the wide-ranging impacts a second wave of coronavirus-related layoffs could have on the nation’s economy. In addition, the CBS EVENING NEWS will provide an in-depth look at families that are forced to turn to food banks for the first time in their lives, and feature a report on how frontline heroes are affected by the economy.

CBS THIS MORNING: SATURDAY will look at how some of the hardest-hit businesses are still able to help the most vulnerable. The broadcast will feature some well-known chefs who have closed their restaurants but are using their food industry contacts to help the hungry in their communities.

            FACE THE NATION and its moderator, Margaret Brennan, began covering the novel coronavirus outbreak in January 2020, and the show will continue the program’s rigorous interviews with key voices, focusing on the health and economic impact of coronavirus pandemic. Brennan will continue to draw from her decade-long experience in covering the global market in the middle of the previous financial crisis to bring new context to viewers. Recent interviews focused on the financial fallout include Treasury Secretary Steven Mnuchin; Bank of America CEO Brian Moynihan; Federal Reserve Bank of Minneapolis President and CEO Neel Kashkari; Federal Reserve Bank of St. Louis President and CEO James Bullard; FedEx CEO Frederick W. Smith; and former National Economic Council director Gary Cohn.

CBS News Radio provides a daily update from CBS News business analyst Jill Schlesinger on the “Financial Fallout” and how it affects listeners’ daily lives by answering their questions of the day in Schlesinger’s daily radio feature, “Jill on Money.”

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