US coronavirus death toll tops 1,000 as unemployment widens
Roughly half the United States was under “stay at home” orders to try to curb the spread of the virus, with the side effects of strangling the economy and unleashing a wave of layoffs. Help may be on the way as the US Congress neared approval of a $2 trillion economic stimulus package.
Louis DeAngelis, 26, worked as a bar tender in Plymouth, New Hampshire, until early last week, when the state’s governor closed all bars and restaurants because of the virus threat. After applying without any problems, he found out he will receive $159 a week, or slightly less than half of his weekly income.
Hospitals, laid-off workers and struggling companies will receive badly needed economic aid under the record-setting economic stimulus legislation approved by the Senate late on Wednesday in a 96-0 vote. House of Representatives leaders said they hoped to pass the bill on Friday, and President Donald Trump has said he would sign it into law.
“The number has sent chills through the markets. If these numbers continue for three or four weeks, there will be demand for more fiscal support,” said Quicky Krosby, chief market strategist for Prudential Financial in Newark, New Jersey.Powell said reactivating the economy would have to wait until the virus is under control, despite Trump’s stated desire to resume economic activity by Easter, April 12.
Powell also said he would defer to experts such as Anthony Fauci, head of US National Institute of Allergy and Infectious Diseases, for guidance on when to lift restrictions.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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