Negotiations lag on US$1 trillion stimulus for coronavirus-hit US

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 17%
  • Publisher: 63%

WASHINGTON (AFP) - US lawmakers urgently negotiating a US$1 trillion (S$1.45 trillion) emergency package to salvage an economy ravaged by the coronavirus missed a Republican-imposed deadline to reach an agreement by the end of Friday (March 20).. Read more at straitstimes.com.

Singapore Headlines News

Singapore Latest News, Singapore Headlines

WASHINGTON (AFP) - US lawmakers urgently negotiating a US$1 trillion (S$1.45 trillion) emergency package to salvage an economy ravaged by the coronavirus missed a Republican-imposed deadline to reach an agreement by the end of Friday (March 20).

Negotiators held talks with Treasury Secretary Steven Mnuchin and other administration officials to thrash out a compromise over the massive federal intervention. The top Democrat in Congress, House Speaker Nancy Pelosi, joined some of the negotiations by phone. Afterwards, she said Mr McConnell's proposal"puts corporations ahead of working people".Mr Schumer, warning that more dramatic assistance would be necessary, called for a beefed-up worker support plan.

The need for rapid government intervention became more apparent as unemployment claims for the week ended March 14 shot up well beyond consensus forecasts due to layoffs from the coronavirus crisis.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

American Airlines secures US$1 billion credit line to deal with coronavirus crisisAmerican Airlines Group Inc has secured a new year-long US$1 billion credit line, taking its available liquidity to US$8.4 billion, a regulatory ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

MAS sets up US$60 billion swap facility with US Fed in coordinated central bank actionsSINGAPORE - The Monetary Authority of Singapore (MAS) announced on Thursday night (March 19) the establishment of a US$60 billion (S$86.5 billion) swap facility with the US Federal Reserve in coordinated cantral bank actions to alleviate ongoing strains in credit markets from the impact of the coronavirus outbreak.. Read more at straitstimes.com. Basically this swap will allow greenback liquidity in the system ? Any advantages for singapore ? Any disadvantages ?
Source: The Straits Times - 🏆 8. / 63 Read more »

From Boeing to Tennessee whiskey, coronavirus US bailout requests top US$2 trillionAs the coronavirus pandemic threatens to bring U.S. economic activity to a halt, American businesses are jockeying for a financial lifeline from ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

MAS unveils US$60b swap facility with US FedTHE Monetary Authority of Singapore (MAS) on Thursday night announced a US$60 billion swap facility with the US Federal Reserve to ease the strain on businesses amid the virus fallout. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US senator sold stocks after suggesting US was prepared for coronavirusWASHINGTON (NYTIMES)- Senator Richard Burr sold hundreds of thousands of dollars' worth of stock in major companies last month as President Donald Trump and others in his party were still playing down the threat presented by the coronavirus outbreak and before the stock market's precipitous plunge.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

MAS announces US$60 billion swap facility with US Fed over coronavirus impactThe Monetary Authority of Singapore (MAS) announced on Thursday (Mar 19) the establishment of a US$60 billion swap facility with the US Federal ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »