The U.S. government is adding US$2 trillion Covid-19 response stimulus package to its existing US$23.5 trillion debt. How is that possible?
U.S. Treasury Secretary Steven Mnuchin announced in a tweet the decision to move Tax Day from April 15 to July 15.
“All taxpayers and businesses will have this additional time to file and make payments without interest or penalties” Mnuchin said in his tweet, posted on Friday March 20, 2020.
Treasury Secretary Steven Mnuchin said on Tuesday March 17, 2020 that the Trump administration is “looking at sending checks to Americans immediately”.
The Russian Energy Minister told reporters: “From April 1 neither OPEC nor non-OPEC have restrictions”. A relentless price war is looming.
Trump declared national emergency in response to coronavirus. This declaration gives him over 100 special provisions to tackle the spread of the pandemic.
Harvard University has asked students to leave their dorms by Sunday, March 15 2020. This decision comes in response to the coronavirus outbreak.
The Federal Reserve decided to drop interest rates by half a point on Tuesday March 3, 2020. This decision comes amid growing fears about coronavirus.
If current trends continue, around a million working people will be on zero-hours contracts by the end of the year 2020, researcher says.
Next time you read a story about a rise in pay, try to see if it reports the wage data in nominal or real terms, and if it includes fringe benefits too.
Base interest rates have been negative in Switzerland, Denmark, Japan and the eurozone for years. This represents a new macroeconomic policy experiment.