On Sunday, the 22nd of March 2020, US Treasury Secretary Steven Mnuchin said that the coronavirus aid bill being prepared by the US Congress would contain a one-time pay off of $3,000 for US families and would proffer the US Fed up to $4 trillion in liquid asset in order to support the world’s No.
1 nation’s ailing economy which many analysts said had already entered in to a recession. Aside from that, in an interview with the “Fox News Sunday” TV program, the US Treasury’s Mnuchin was also quoted saying that the additional liquidity allotted to the Federal Reserve should be sufficient for a number of US businesses to see pass through the next 90 to 120 days.
Nonetheless, Democratic US House Speaker Nancy Pelosi said on Sunday (March 22nd) that no bipartisan had not yet been finalized and a vote on coronavirus aid measures would likely to take place as early as by Monday (March 23rd).
Meanwhile, as at least a fourth of US population remained under stiffer lockdown to slow down the spread of the pathogen, adding that the US economy would take a tormenting hit from the Covid-19 outbreak, but should rebound quickly when the virus was contained, Mnuchin said on Sunday (March 22nd), “We need to get the money into the economy now.
If we do that, we think we can stabilize the economy. ” As of Sunday (March 22nd) night, US Health Officials had reported 8,149 new cases over the past 24 hours alongside 112 deaths, making it the third-worst country from the gruesome coronavirus outbreak after China and Italy with 32,356 Covid-19 positive patients diagnosed thus far.