Subterms
The US economy risks “permanent damage” if coronavirus lockdowns continue for months, the treasury secretary, Steven Mnuchin, has warned Congress. Mnuchin’s comments came in a joint appearance before the Senate banking committee with Jerome Powell, the chairman of the Federal Reserve. Appearing via video link, the pair offered a stark assessment of the fragile state […] More
Coronavirus has destroyed the myth of the deficit No, federal government spending doesn’t have to be ‘paid for’. The crisis shows providing for our society is not a financial issue ‘Buying into the deficit myth, for generations we have been living below our means – paralyzed by the belief that finance is the constraint.’ Photograph: […] More
White House prepares to send direct payments to Americans as part of stimulus package Coronavirus – latest updates See all our coronavirus coverage Donald Trump has dramatically stepped up the US government’s response to the coronavirus outbreak by announcing plans to send cheques directly to American citizens to give them emergency financial aid, while agreeing […] More
