Stocks jumped on Thursday after the Federal Reserve announced
that it would pump another $2.3 trillion into the economy, in a bid to
provide relief to households and businesses as well as state and local
*April 10/20: Was questioning why 1974 was significant? And then it dawned on me!
Johan Witteveen, the Managing Director of the IMF, said in 1974: "The international monetary system is facing its most difficult period since the 1930s."
The IMF administered a new lending program during 1974–1976 called the Oil Facility.
Petro dollar recycling was discussed in the previously : The Oil Price War Won’t Dethrone The Dollar
The latest, Yes, that's another 2.3 Trillion!
Phase 4 Stimulus BillKey background: The Fed has already made extreme interventions into the economy: It’s cut rates to nearly zero, stepped in to backstop a $350 billion emergency small business loan program, and purchased billions of dollars’ worth of government debt and mortgage-backed securities. In the three weeks since President Trump signed the historic CARES Act into law, as more than 16 million Americans have filed for temporary unemployment benefits, it’s clear that the $2 trillion-plus emergency rescue spending plan won’t be enough to prop up the economy
Less than three weeks after President Trump signed the historic CARES Act into law, it’s clear that the $2 trillion-plus emergency rescue spending plan won’t be enough to prop up the economySo another 2.3 Trillion might do the trick?
- The Fed’s timely stimulus helped offset another dismal weekly jobless claims report, in which 6.6 million people filed for first-time unemployment last week.
- Treasury Secretary Steven Mnuchin told CNBC on Thursday that he believes the U.S. economy could get back up and running next month.