'This is an usual recession because we don't want people to be working,' said Harvard economist Gregory Mankiw. 'We do want people to be staying home. We don't want all those restaurants to be bustling.'
The $1 trillion stimulus package proposed by the Trump administration would give Americans more spending money, but beside grocery stores many spending outlets have been closed by the pandemic.The $1 trillion stimulus package proposed by the Trump administration would give Americans more spending money, but beside grocery stores many spending outlets have been closed by the pandemic.
"This is an usual recession because we don't want people to be working," said Harvard economist Gregory Mankiw."We do want people to be staying home. We don't want all those restaurants to be bustling."
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White House, Senate GOP working on $1T stimulus package, cash payments to AmericansThe White House and Senate Republicans are working on a $1 trillion economic stimulus package — the third infusion of emergency spending to help the U.S. economy amid the coronavirus pandemic. The measure would include direct payments to Americans.
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Another Problem for the Fed: Banks Pressured as Clients Scramble for CashCompanies world-wide are drawing down their credit lines at the same time, forcing banks to cough up large sums of money on short notice and further straining a financial industry already hammered by sinking interest rates.
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A key source of corporate cash is seizing up amid a coronavirus credit crunchSo far there are no signs of stress among money-market mutual funds or institutional cash management accounts.
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Coronavirus live updates: US cases surpass 5,000, Mnuchin says Americans 'need cash now'The development of coronavirus vaccines and treatments are underway. Currently, there is no proven therapy for the virus that has sickened more than 185,000 worldwide.
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Mnuchin says Trump administration is looking to get cash to Americans 'immediately'There have been 7 new 52-week highs in the S&P 500 today, including names like Campbell Soup and General Mills. Citrix, Clorox, and WEC Energy have notched all-time records.
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Disney Taking Massive Financial Hit But Has Cash Enough To Weather Disruption, Moody’s SaysGiant ratings agency Moody’s Tuesday outlined the massive financial hit Disney is taking in the current coronavirus pandemic but said the company has enough cash to weather the disruption. &…
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