Global giant India joined the countries ordering their citizens to stay at home Tuesday, putting a third of the world on lockdown as the coronavirus epidemic forced Japan to postpone the Olympics.
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 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.”
The Trump administration announced on Friday a ban on recreational and tourist travel at the U.S.-Mexico border as a precaution to prevent the spread of the coronavirus.
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.
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.
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 Federal Reserve on Tuesday announced that it was setting up a special entity to purchase short-term debt issued by corporations to help keep afloat companies facing a credit crunch because of the 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.
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.
New economic data released Monday shows China’s economic activity in all areas plunged in the first two months of 2020 as the novel coronavirus outbreak first erupted and took hold in the world’s second-largest economy.
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.
Prime Minister Benjamin Netanyahu convened a meeting at his office in Jerusalem late on Saturday afternoon to discuss further, more stringent measures Israel may take to halt the coronavirus pandemic.
Nonfarm payrolls increased by 273,000 in February, surpassing economists’ 175,000 estimate. Unemployment also slightly dropped to 3.5 percent, matching its lowest level in more than 50 years, according to the latest report by the U.S. Department of Labor.
U.S. stocks rallied at opening Tuesday, recouping some of Monday’s losses after President Trump floated a payroll tax holiday to stimulate economic growth against the coronavirus.
The Federal Reserve, in a rare emergency step, cut short-term rates by half a percentage point on March 3 to protect the U.S. economy from the growing fallout of the global coronavirus outbreak.
The Knesset election on Monday will go down in history as the most unique Israel has had so far: It will have been the first time Israelis go to the polls for the third time in less than a year, with the total cost to the economy being at least NIS 9 billion ($2.6 billion) in lost productivity.
All countries need to prepare to combat the coronavirus, the World Health Organization said on Thursday, as authorities raced to contain the epidemic’s rapid global spread and Wall Street looked set for its biggest weekly fall since the 2008-2009 financial crisis.