Page 66 - Us Economy
Coronavirus: Washington set to deliver $ 2.2 trillion virus rescue bill
Originally scheduled as a non-working pro forma meeting, the session will be extended to a debate on the bill all conducted under social distancing rules to minimize the risk of transmitting the virus
 "Coronavirus: Washington set to deliver $ 2.2 trillion virus rescue bill")
Record 3.3 mn in US seek jobless benefits as coronavirus hammers economy
The normally routine report is at the frontlines of the economic crisis caused by the outbreak, which has forced widespread closures of restaurants, shops and hotels
 "Record 3.3 mn in US seek jobless benefits as coronavirus hammers economy")
Is 'universal basic income' a possible remedy for economies hit by virus?
Now, with the US economy crippled as people hunker down at home, the likes of conservative Republican Senator Mitt Romney are raising the idea
 "Is 'universal basic income' a possible remedy for economies hit by virus?")
Coronavirus: Trump hopeful of reopening economy by Easter; toll touches 778
Apart from New York, neighbouring New Jersey, along with California, Michigan, Illinois and Florida were the other coronavirus hotspots
 "Coronavirus: Trump hopeful of reopening economy by Easter; toll touches 778")
Federal Reserve aims 'bazooka' to backstop coronavirus-hit economy
Nearly a third of the US population has been urged to stay indoors and authorities have mandated the shutdown of large parts of the service sector to keep people safe
 "Federal Reserve aims 'bazooka' to backstop coronavirus-hit economy")
Wall Street plunges as Federal Reserve fails to allay coronavirus worries
More states under lockdown raise fears of hit to economy
 "Wall Street plunges as Federal Reserve fails to allay coronavirus worries")
Covid-19: US headed towards recession, but Silicon Valley still optimistic
A total of 218 people have died in the US due to the fast-spreading coronavirus pandemic
 "Covid-19: US headed towards recession, but Silicon Valley still optimistic")
US plans to give $1000 in cash to adults, $500 to kids amid Covid-19 crisis
The cash transfer plan alone is expected to cost $500 billion.
 "US plans to give $1000 in cash to adults, $500 to kids amid Covid-19 crisis")
US warns citizens against travel abroad, unveils $1-trillion stimulus plan
The US Senate unveiled details of a $1 trillion-plus coronavirus bill on Thursday intended to help the US economy
 "US warns citizens against travel abroad, unveils $1-trillion stimulus plan")
US recession chances now at 80% despite Fed emergency moves: Report
The virus and COVID-19, the disease it causes, has spread around the world, crippling global economic activity through lockdowns and business shutdowns.
 "US recession chances now at 80% despite Fed emergency moves: Report")
Covid-19 hit US economy already in recession: BofA; pegs job loss at 3.5 mn
US Federal Reserve urged not to restrict the quantum of stimulus measures
Wall Street extends recent selloff, Dow all but erases 'Trump-bump'
Trump's request for Congress to approve $500 billion in cash payments to taxpayers along with $50 billion in loans for airlines did little to stem the rout
 "Wall Street extends recent selloff, Dow all but erases 'Trump-bump'")
US economy likely to shrink by 4% in Q1, down by 14% in Q2: JP Morgan
The forecast assumes the Fed will continue to find "creative" ways to support the economy and that the Trump administration and Congress deliver fiscal support of $1 trillion
 "US economy likely to shrink by 4% in Q1, down by 14% in Q2: JP Morgan")
US Fed to reintroduce Commercial Paper Funding Facility to boost lending
The Fed said the Treasury will provide $10 billion of credit protection to the central bank's commercial paper operation
 "US Fed to reintroduce Commercial Paper Funding Facility to boost lending")
Wall Street bounces after Monday's historic sell-off, Dow Jones rises 5%
The US central bank relaunched a financial crisis-era purchase of short-term corporate debt to help companies be able to continue paying workers and buy supplies through the pandemic
US Fed to buy short-term corporate debt in emergency coronavirus move
Under the Commercial Paper Funding Facility, first used in 2008, the central bank will buy short-term corporate debt directly from the companies that issue it
 "US Fed to buy short-term corporate debt in emergency coronavirus move")
Goldman Sachs downgrades US growth forecast for Q1, Q2 due to coronavirus
In a note sent on Sunday, the US bank said it now sees real gross domestic product growth of 0% in the first three months of the year, from its original estimate of 0.7% expansion
 "Goldman Sachs downgrades US growth forecast for Q1, Q2 due to coronavirus")
Donald Trump congratulates US Fed for rates cut, calls action 'terrific'
US President Donald Trump congratulated the central bank for taking further action aimed at helping shore up the US economy
US Fed, banks discuss possible leniency on liquidity threshold for lending
The Fed is reassuring lenders that they should dip into those buffers if needed, the sources said
New York Fed to bring new repo operations, change maturities of purchases
The central bank will offer $500 billion in a three-month repo operation at 1:30 pm eastern Thursday
