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Watch Live: WHO Holds Press Conference on the Coronavirus Outbreak, 11:30 am ET.Mar 23, 2020 - 08:40:09 PDT
World Health Organization officials are holding a press conference to update the public on the coronavirus outbreak, which has now infected more than 350,000 people worldwide.
Trump began talking privately late last week about reopening the nation, despite the swiftly rising number of coronavirus cases and against the advice of health professionals, because he’s worried about the economic damage from an extended shutdown, according to people...
What the Next 18 Months Can Look Like, if Leaders Buy Us Time.
All of which means Americans - on average - can expect gas-prices at the pump to plunge below $2/gallon very soon...
Unfortunately, even if this virus spread peaks and declines in the next 2-3 months, the Economic & Financial Damage will already have been done.
The institution was ready to expand the size of its emergency bond purchase program as well as its duration.
“The central bank is shifting from being not just the lender of last resort, but now it is the buyer of last resort. Don’t ask how much they will buy, this is truly QE infinity.”
Gold futures headed higher on Monday, extending gains after the Federal Reserve unveiled an aggressive round of additional stimulus, including virtually unlimited purchases of Treasurys and mortgage-backed securities.
Stocks fell on Monday even after the Federal Reserve unveiled new measures to keep markets working properly.
The Fed will purchase a total of $125BN every day, or an unprecedented $625BN in just one week, more than the Fed's entire QE2 which was just over $500BN in purchases over 7 months.
Let me be clear upfront. I don't think coronavirus is "just the flu." I think the pandemic represents a significant health threat and could potentially overwhelm the healthcare system if the spread isn't slowed. I think social distancing is wise. But I also think the draconian measures taken by governments that have effectively shut down the economy in many places may prove more deadly in the long run than the virus itself.As Kerry Baldwin said, the economy is life-sustaining.
Treasury Secretary Steven Mnuchin told CNBC on Monday that a government stimulus package is imminent. “I think we’re very close. We need to get this deal done today,”
Mnuchin: Congress ‘Very Close’ to Stimulus Agreement Must Get Done ‘Today’Mar 23, 2020 - 06:08:37 PDT
Treasury Secretary Steven Mnuchin told CNBC on Monday that a government stimulus package is imminent. “I think we’re very close. We need to get this deal done today,”
In Unprecedented Move, Fed Unveils Open-Ended QE Including Corporate BondsMar 23, 2020 - 05:58:06 PDT
Unlimited everything, including corporate bonds.
It wasn't long ago that all of the pundits were telling us that the economy was strong. As a result, a lot of people seem to think that once the coronavirus situation is resolved, the economy will quickly go back to normal. In his podcast Friday, Peter Schiff said that's not going to happen. The coronavirus is actually going to reveal that the "great" economy was an illusion — a big, fat, ugly bubble that has now been popped.
"If the government tries to keep spending at levels before lockdowns began, while at the same time keeping lockdowns in place, there will be simply more money chasing after significantly fewer goods and services. The result of this will be inflation, and a lot of it."
We now see 1Q GDP dropping by 2.4% as economic activity has come to a near standstill in March, followed by a record-breaking drop of 30.1% in 2Q.
The dollar rose against major currencies on Monday as fresh declines in global stocks and worries about tightening liquidity amid the worsening coronavirus crisis accelerated the flight to cash.
Neel Kashkari said one possible option is giving forgivable loans to small businesses that retain their workers. Avoiding mass layoffs, he said, is better than trying to pull people back into the workforce, which can take years.
Real Estate Billionaire Barrack: Commercial Mortgages on Brink of CollapseMar 23, 2020 - 04:36:23 PDT
Real estate billionaire Tom Barrack said the U.S. commercial-mortgage market is on the brink of collapse and predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep borrowers from defaulting.