With the passing of the hours, the blow that the coronavirus pandemic is dealing to the economies becomes increasingly stronger and the markets show this with deep daily falls that have led several times to the temporary suspension of operations.
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The Donald Trump government’s stimulus plan is already stepping up at $ 1 trillion to try to keep productive sectors from coming to a complete halt and so that households left without their sources of income can receive temporary relief. This is what his administration has proposed so far:
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✔️ Checks that go directly to people: the planet government ask for $ 500,000 million for this precisely. The checks, the amount of which is to be determined according to Trump, would be sent as soon as April 6 within a first tranche. A second one would start shipping from mid-May.
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✔️ I stop foreclosures and evictions: Trump said the Department of Housing (HUD) will suspend all foreclosures and evictions until the end of April.
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✔️ Loans to low-income people: The Reuters agency reported that the government is considering issuing a guideline to encourage banks to lend to those with less resources and to declare moratoriums or relief in the repayment of some loans.
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✔️ Help small businesses: The $ 1 billion plan includes a $ 300 billion item so that small businesses can continue to pay their payroll despite being closed.
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✔️ Nearly zero rates and a massive injection from the Federal Reserve: the US central bank lowered its interest rates to near zero to stabilize markets and keep loans flowing. It also announced a $ 700 billion injection into the purchase of some types of bonds, such as Treasuries.
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