Tag Archives: steven mnuchin

U.S. Senate leaders and the Trump administration neared an agreement on a massive stimulus bill that could inject $2 trillion into the economy to blunt the impacts of the coronavirus.The United States Democratic party said it is working on a big stimulus bill in response as an answer to the coronavirus epidemic and its economic impact. A version of the bill is dated March 22 and it has been circulating includes a passage that, if passed, would lead to the creation of a “digital dollar” to be...

The fiscal stimulus bill presented by the Trump government failed to receive a key Senate vote and was halted from passing. The Democrats said that the bill did little to help out workers and more to bail out companies.The coronavirus pandemic continues to hit the global markets and the number of infected cases is on a steep rise. The U.S. Stock futures plunged in the early morning on Monday as Wall Street awaits an economic stimulus from the Trump government.Today, early morning 6 am, the...

JPMorgan’s chief U.S. equity strategist thinks that the S&P 500 could return to record highs by early next year if the U.S. policy of efficiently containing the coronavirus outbreak works and the government rapidly moves forward with fiscal stimulus.Last week was pretty damaging for the U.S. markets even though they had a day of positivity. However, they ended the week in the red. Just for reminder, U.S. stocks finished the session on Friday following predictions from Goldman Sachs on...

The White House has asked Congress for $1.3 trillion amid the coronavirus crisis. This sum includes $500 billion in direct payments to Americans, $50 billion in loans to the airline sector, and $150 billion to other “distressed sectors” of the economy.To survive in the coronavirus crisis, the U.S. White House has come up with the proposal to send Americans relief money. Donald Trump‘s administration is planning to make direct payments of $1,000 per adult and $500 per child as a part of a...

The value of checks that the U.S. government is sending to help people amid the coronavirus outbreak may reach $1,000 or even more.The U.S. Government is sending checks to households. This is reportedly to combat the effects of the economic malaise in the economy due to COVID-19. Sources say that the Secretary of the Treasury Steven Mnuchin indicated this yesterday at a white house conference.He reportedly said that the funds would reach households across America immediately.The amount that...

Bitcoin price recovery from last week’s catastrophic drop to $3,700 is still on as it tops $5,500 before pulling back below $5,200 partially driven by a boost from the reports that Trump Administration would support a $1 trillion coronavirus package.Nowadays we can read all about Bitcoin being “safe haven” in cases of emergencies, wars, unstable currencies, etc.However, nobody thought that an epidemic can become a “black swan” in such short notice. We had a big financial crisis back in 2008...

The fiscal stimulus package came amid the constantly dropping markets over the rise in the coronavirus spread. The Trump government announced direct payments and tax reliefs to individuals and small businesses. Dow Jones moved up on this news.The coronavirus outbreak has taken the entire global economy on a toss. Businesses across the world are facing the heat of this slowdown as the situation goes from bad to worse. The Dow Jones Industrial Average has been tossing like a crazy ball on the...

Dow Futures lost another 800 points. Futures contracts for the indices were in “limit down” territory, a situation where trading is halted after they have hit a 5% loss and can go no lower.Trading of futures contracts has seen extreme volatility overnight, and some traders even thought of the possibility that computer trading has distorted trading moves in the market’s collapse deriving from the coronavirus outbreak. Futures on the Dow Jones Industrial Average fell 821 points, indicating a...

Stocks surged at the open, one day after posting their worst day since the Oct. 1987 crash. The Dow Jones Industrial Average jumped 1,238 points, for a gain of 5.8%. The S&P 500 rose 5.2%, while the Nasdaq Composite jumped 5.7%.The Dow Jones Industrial Average index was more than 1,200 points higher at the open on Friday amid market recovery from yesterday’s fall.The Dow Jones jumped 5.32% at the opening bell. Intel Corp (NASDAQ: INTC) was among the best performers, adding 9.16%. The...

Bitcoin is down another $200 at press time, meaning it’s fallen by about $600 over the past 48 hours. What could be going on that we’re not seeing?Bitcoin Is Set to Become More RegulatedIt could be that bitcoin and other cryptocurrencies are reacting to the news that more legislation is heading their way. This week, Treasury secretary Steven Mnuchin explained that hardcore regulations are about to hit the cryptocurrency arena very soon, and while they’re eager to allow cryptocurrency trading...