Federal Reserve Launches Bold Program to Stabilize Markets
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.”
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Congress struggles to reach a deal on its massive coronavirus stimulus bill
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.
Fed will make up to $4 trillion in loans to businesses to rescue the U.S. economy, Mnuchin says
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.
Food service industry hit especially hard by coronavirus-induced unemployment spike
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.
Half a trillion dollars devoted to checks for individual Americans in proposed Trump stimulus package
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.
President invokes Defense Production Act, closes border with Canada, initiates other measures
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.
Trump to seek $500 billion in direct payments to Americans
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.
Wall Street bounces after Monday’s selloff as Fed boosts liquidity
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.
White House seeking multi-billion dollar coronavirus stimulus package
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.
Dow drops nearly 3,000 points, as coronavirus collapse continues; worst day since ’87
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.
Trump: Next 15 days vital, but coronavirus response could last until middle of summer, even later
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.
Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program
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.
U.S. House passes package to provide coronavirus relief; Senate up next
The U.S. House early Saturday passed bipartisan legislation in response to the coronavirus pandemic.
Coronavirus Pandemic Prompts US National Emergency
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.
Fed Announces Huge Capital Injection to Try to Stabilize Markets
The U.S. central banking system announced moves Thursday to stabilize the global financial system by putting $1.5 trillion into short-term lending markets, and the purchase of $60 billion in Treasury bonds to fuel the bond market.
Dow plunges 10% amid coronavirus fears for its worst day since the 1987 market crash
Stocks plummeted once again on Thursday after President Donald Trump and the Federal Reserve both failed to quell concerns over the economic slowdown stemming from the coronavirus, leading to a historic drop for the U.S. markets.
Federal Taxes and Spending Set Records Through February
The federal government set records for both the amount of taxes it collected and the amount of money it spent in the first five months of fiscal 2020 (October through February), according to data released today in the Monthly Treasury Statement.
Trump Suspends Travel Between US and Europe for 30 Days
President Donald Trump said Wednesday he is suspending all travel between the U.S. and Europe for 30 days beginning Friday as he seeks to combat a viral pandemic.
February job growth surpasses expectations, defies coronavirus fears
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.
Stocks rally following worst day in 12 years as Trump pushes payroll tax cut
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.