Stimulus Update 6/24: YES!! Treasury Prioritizes Stimulus Checks On...

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🗞Article: https://www.bloomberg.com/news/articles/2020-06-23/mnuchin-says-stimulus-may-pass-congress-in-july-to-boost-economy

In an interview Tuesday during the Bloomberg Invest Global virtual event, Mnuchin said, “the second stimulus check is something we’re very seriously considering,”. He said the Trump administration is discussing a number of different employment-focused proposals. “We’re talking about a bunch of different ideas that we may need to do in another bill, and we want to take our time and make sure we’re thoughtful,” Mnuchin told reporters. “So whatever we do it’ll be much more targeted, much more focused on jobs, bringing back jobs and making sure we take care of our kids.” President Trump also spoke on Tuesday and said he’s considering sending another round of economic stimulus payments in a rescue package that he expects will be released “over the next couple of weeks.” Causing Stocks to rise Tuesday on optimism for more stimulus.

In the meeting Tuesday, Mnuchin met with Republican senators, who are considering whether the next stimulus measure should include another round of direct payments to individual households. Several Republican senators stood up in the meeting and urged Mnuchin to be cautious in doing more deficit spending and to narrow down any aid, lawmakers said. At the center of the debate is whether to send a second round of payments to low- and middle- income individuals to help bolster household budgets that have suffered as the coronavirus has forced millions out of jobs and caused mortgage delinquencies to reach their highest levels in nearly a decade. Trump has signaled approval for the idea, but support is mixed among congressional Republicans about whether the cost is worth it.

Mnuchin reiterated that he and the president are not inclined to shut down the economy a second time if there is a resurgence in coronavirus cases. “Right now we’re in a different situation,” then we were a couple of months ago. He noted that in March businesses were ordered to close, hospitals had been overwhelmed with patients and ventilators were running low. Prior to the pandemic, the U.S. had record-low unemployment rates – hovering around 3.5 percent at the outset of the year. Since then, more than 45 million people have filed jobless claims since mid-March, and the unemployment rate has since ballooned to more than 14 percent as of April. However now, he says businesses are starting to reopen, sates are reopening and things are moving in the right direction. He says that he thinks the US economy will be out of a recession by the end of the year. Ultimately, putting Americans back to work as the country continues the reopening process is a major focus for the administration. The next stimulus will be much more targeted, much more focused on jobs, bringing back jobs and making sure we take care of our kids.”

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Видео Stimulus Update 6/24: YES!! Treasury Prioritizes Stimulus Checks On... канала Michael Wrubel