Trump, Pence join 700 pastors in prayer call during coronavirus outbreak
President Donald Trump and Vice President Mike Pence joined over 700 pastors on a conference call Friday to pray for strength and stamina amid the novel coronavirus outbreak.
Economy
G20 leaders pledge $5tn in ‘united’ response to coronavirus crisis
G20 nations pledged a ‘united front’ Thursday in the fight against coronavirus, saying they were injecting $5 trillion into the global economy to counter the pandemic amid forecasts of a deep recession.
A third of the world under virus lockdown, as Olympics delayed
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.
Coronavirus Stimulus Offered By House Financial Services Committee Creates New Digital Dollar
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.
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.”
US and Mexico agree to block all nonessential travel at shared border, exempting trade
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.
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.
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.
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.
Fed relaunches crisis-era lending program to aid companies facing pandemic credit crunch
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.
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.
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.
Chinese Economy Craters in First Two Months of 2020 Due to Coronavirus Outbreak
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.
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.
Netanyahu weighs new, stricter measures to halt 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.
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.
Fed Makes Emergency Rate Cut to Shield US Economy From 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.