Serious Support on the Horizon
The news is coming fast and furious as Congress and the administration scramble to add support. Stocks are up on news that a more significant fiscal stimulus plan is in the works. Three weeks ago, President Trump had request $2.5 billion to fight the coronavirus (COVID-19). Two weeks ago, an $8.3 billion dollar bill was passed. This morning, Treasury Secretary Steve Mnuchin is reportedly seeking to add virus-related stimulus of $850 billion to the package the House passed over the weekend. On the surface, even this now seems inadequate.