US News: The house and the senate finally worked out their indifference for the betterment of the American people and agreed on a $2 trillion package to provide relief to people during the economic downturn caused by the coronavirus, or COVID-19 crisis. More to follow…
🌐Learn more at abcnews.com
🤵Federal Reserve: The Federal Reserve is to monitor and assist financial institutions on its ‘supervisory approach’.
Here is what the Board of Governors of the Federal Reserve System:
“The Federal Reserve Board on Tuesday provided additional information to financial institutions on how its supervisory approach is adjusting in light of the coronavirus.”
- The Federal Reserve will focus on monitoring and outreach to help financial institutions of all sizes understand the challenges and risks of the current environment.
- To minimize disruption and to focus on outreach and monitoring, the Federal Reserve will temporarily reduce its examination activities, with the greatest reduction in activities occurring at the smallest banks.
Michael’s view: At this point for the sake of America we need our politicians and public officials working relentlessly on saving lives. Now is NOT the time for a right wing left wing debate. Rather the task at hand should be economic improvement, PPE generation, and vaccine funding support for the nation’s best equipped companies.
🌐Learn more at Federalreserve.gov, foxnews.com, yahoofinance.com, washingtonpost.com
🏪 U.S. Small Business: Small Business Administration loans are now available directly on sba.gov. On the webpage there is an application button for the low interest loans “due to the coronavirus (COVID-19)”. The SBA has the Economic Injury Disaster Loan program which provides working capital loans of up to $2 million.
📈 Financial Markets Overview
*Previous Day Close/Snapshot mid-afternoon EST (Foreign Markets)
US Stock Market – DJIA: (+2.39%)
Europe Market – Global Dow Realtime EUR: (+11.27%)
Asia Market – NIKKEI 225 Index: (+8.04%)
- President Trump wants to reopen the markets by Easter in fear of economic depression and he claimed that “thousands more would die from suicide” if we are to lockdown the nation without a working economy. Dr. Fauci and Bill Gates believe the President is not taking a medical approach to this crisis.
- Cases in Michigan Double to just below 3,000.