The U.S. Senate’s unanimous passage of an estimated $2.2 trillion coronavirus relief bill sent the unprecedented economic rescue legislation to the House of Representatives, whose leaders hope to pass it on Friday.
Nearly 3.3 million Americans filed unemployment claims last week, a record number as businesses were forced to shut down to help slow the spread of the novel coronavirus.
The Senate announced a bipartisan agreement on an unprecedented $2 trillion coronavirus relief package for workers and businesses.
As the markets continue to drop and the U.S. looks to Congress for agreement on a massive stimulus package to save the economy from impacts of the coronavirus pandemic, the newest offer by House Democrats includes a very forward-looking kind of stimulus: the creation of a ‘digital dollar’ and the establishment of ‘digital dollar wallets.’ In what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital currencies around the world, this signals the U.S. is serious in establishing infrastructure for a central bank digital currency.
The Dow soared on Tuesday to its biggest one-day percentage gain since 1933, after U.S. lawmakers said they were close to a deal for an economic rescue package in response to the coronavirus outbreak, injecting optimism following the biggest selloff since the financial crisis.
Republicans erupted in anger and opposition Monday after House Speaker Nancy Pelosi released an economic relief package the GOP characterized as stuffed with liberal agenda items unrelated to the coronavirus crisis.
The Federal Reserve unveiled a host of programs on Monday in order to stabilize the markets in the midst of the coronavirus crisis, which some termed, “quantitative easing to infinity.”
Talks between Democrats and Republicans for a massive funding package to combat the impact of coronavirus have stalled, as lawmakers spar over issues like worker protections and funding for states battling the crisis.
Treasury Secretary Steven Mnuchin said Sunday that the Federal Reserve will play a key role in lending funds to businesses hurt by the coronavirus pandemic.
The number of people claiming unemployment has spiked significantly, with a new Department of Labor report claiming that a 33 percent week-to-week increase is the highest since the Great Recession.
President Trump Thursday continued to negotiate a one trillion dollar stimulus package for the economy that would see half a trillion dollars sent out to individual Americans within nine weeks.
Referring to the fight against the novel coronavirus as a war, President Donald Trump said Wednesday he is invoking the Defense Production Act (DPA) to help protect the country.
Saying that ‘in a sense’ he is ‘a wartime president,’ President Donald Trump wants Congress to approve $500 billion in new spending to send money directly to American households reeling from the ongoing coronavirus pandemic.
The S&P 500 rose 6% on Tuesday, a day after its steepest decline since the 1987 crash, as the Federal Reserve took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
The White House proposed an $850 billion stimulus package Tuesday for an economy that has been rocked by coronavirus fears, the Trump Administration expecting bipartisan support for a move that may involve sending Americans $1,000 checks.
Stocks fell sharply Monday — with the Dow suffering its worst day since the ‘Black Monday’ market crash in 1987 and its third-worst day ever — even after the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the coronavirus outbreak.
The White House Monday issued new COVID-19 guidelines for Americans to follow over a crucial 15-days period, as President Donald Trump said that ongoing efforts to stop the spread of the novel coronavirus could continue on until the middle of summer or even longer.
The Federal Reserve, saying ‘the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,’ cut interest rates to essentially zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the virus.
The U.S. House early Saturday passed bipartisan legislation in response to the coronavirus pandemic.
U.S. President Donald Trump has declared a national emergency, clearing the way for more federal aid to stream to states and cities to combat the coronavirus pandemic.