Commentary: If Larger States Remain Closed, America May Need a Bank Debt Holiday to Avert Another Financial Crisis

Another 5.2 million Americans filed for initial unemployment claims last week, bringing the total number of jobs lost to the Chinese coronavirus and related government closures to anywhere from 21.8 million to 24.8 million jobs lost in about one month, and when added to the 5.8 million who were already jobless, produces an effective unemployment rate of 16.7 to 18.5 percent.

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Commentary: The U.S. Economy Will Weather the Chinese Coronavirus

Tennessee Star

President Donald Trump praised the Federal Reserve for cutting the federal funds rate to a range of 0 percent to 0.25 percent, and restarting quantitative easing with $500 billion of U.S. treasuries purchases and $200 billion of mortgage purchases in response to the Chinese coronavirus global pandemic.

“It makes me very happy and I want to congratulate the Federal Reserve,” he said. “That’s a big step and I’m very happy they did it.” Trump has been hounding the Fed for years to cut interest rates to make the dollar more competitive against trading partners’ currencies including the yuan, euro and peso. Now he gets his wish.

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U.S. Officials Battle Coronavirus on Multiple Health Care, Economic Fronts Even as Death Toll Reaches Nine

The coronavirus death toll in the United States hit nine on Tuesday, even as more areas around the world report infections.

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