🇺🇸 US: Hospitals are being constructed at a rapid pace and personal protection equipment is doing the same at rapid pace in the private sector. At yesterday’s white house briefing President Trump invited many private representatives to the podium to discuss the ventilator and n95 mask production progress. Although cases are spiking indefinitely both the public and private sector are working tirelessly to prevent the spread. Sterilization of masks has been discussed with the nations leading doctors. More to follow…
🌐Learn more at thewhitehouselive, usnews.com
🤵Federal Reserve: The Federal Reserve is intervening with banks for business lending, most recently two actions to support the U.S economy. Good news for small businesses! Remember if you’re small business is struggling you may qualify for an SBA loan.
Here is what the Board of Governors of the Federal Reserve System:
The federal bank regulatory agencies today announced two actions to support the U.S. economy and allow banking organizations to continue lending to households and businesses:
- Allowing early adoption of a new methodology on how certain banking organizations are required to measure counterparty credit risk derivatives contracts; and
- Providing an optional extension of the regulatory capital transition for the new credit loss accounting standard.
Michael’s view: It seems at this point the Federal Reserve is finally playing ball and keeping up with the best interest of the economy at an appropriate pace to save human lives. The quantitative easing and banking interventions should have been rolled out sooner when the virus first closed businesses. The anticipation of the virus collapsing the U.S economy was clear, however many public officials and the President were unable to execute the process fast, until now.
🌐Learn more at Federalreserve.gov, foxnews.com, yahoofinance.com, washingtonpost.com
🏪 U.S. Small Business: According to marketwatch.com the White House vows to dole out emergency loans to small businesses this week. The bi-partisan stimulus relief package administered by President Trump includes $350 billion to small business sectors whose sales have plunged and ordered to close.
📈 Financial Markets Overview
*Market Snapshot @ 12:32pm EST
US Stock Market – DJIA: +2.15
Europe Market – Global Dow Realtime EUR: 1.24%
Asia Market – NIKKEI 225 Index: -1.57%
Detroit, Michigan cases grow exponentially as hospitals fill to full capacity. Public health officials predict virus will peak in 2 weeks’ time and Dr. Fauci believes the virus has the potential to kill 200,000 people. Public and private sector continue to deploy disaster relief to best of ability.