Stocks fell this morning, even as the Federal Reserve pledged unlimited asset purchases to support the market and Congress nears an agreement on a massive coronavirus relief bill by skleb1234
to struggling Americans, $350 billion in small business loans, $500 billion designated to help distressed businesses, $200 billion worth of expanded unemployment benefits and almost $250 billion in money for hospitals.CNBC on Monday that Congress is “very close” to an agreement on the massive stimulus package designed to provide relief to American workers and businesses. “We need to get this deal done today,” Mnuchin said.
The Senate will reconvene to continue deliberations at noon on Monday.Top White House economic advisor Larry Kudlow said on Saturday that the coronavirus relief package could total more than $2 trillion, equal to roughly 10% of U.S. GDP. On Sunday, Mnuchin said that the Federal Reserve and Treasury are working onThe number of coronavirus cases reported around the world has now risen to more than 350,000 people, with at least 15,300 dead, according to data from Johns Hopkins University. The U.S.
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