As the coronavirus outbreak threatens to bring U.S. economic activity to a grinding halt, American businesses are jockeying for a financial lifeline from the administration of President Donald Trump.
President Donald Trump on Wednesday signed a $100 billion coronavirus aid package into law which includes provisions for emergency paid leave for workers as well as free testing.
Some of the biggest policy proposals so far include an announcement from Treasury Secretary Steve Mnuchin that the government is looking at mailing Americans cash assistance and legislation passed by the House of Representatives that provides paid sick leave to some American workers this year.
U.S. homebuilding fell in February, pulled down by a sharp decline in the construction of multifamily housing units, and could continue to weaken as the coronavirus pandemic disrupts economic activity.
U.S. Treasury Secretary Steven Mnuchin warned Republican senators that the country's unemployment rate could hit 20% if they failed to act on a proposed coronavirus rescue package and there was lasting economic damage, a person familiar with the closed-door meeting said.
The order from Democrat Steve Sisolak Tuesday night follows similar moves by more than 10 other governors as states scramble to mitigate the risk of exposure to COVID-19.
In the central bank's latest effort to keep credit markets flowing, the Fed announced a Primary Dealer Credit Facility, which will provide up to 90 days.
Labor unions and some lawmakers want worker and consumer protections if airlines get more than $50 billion in government aid to fight the impact of the coronavirus.
The White House is seeking a stimulus package worth anywhere from $850 billion to over $1 trillion in a bid to battle the economic impact from the coronavirus pandemic.