Unanimous vote, the Senate Passed a record 2 trillion stimulus package to setem the economic bleeding from the coronavirus pandemic. Tomorrow the house is expected to vote and most likely pass. Meanwhile, earlier this morning on today, the Federal Reserve chairman, jerome powell, said the United States could, in fact, be in a recession. We may well be in a recession, but again, i would point to the difference between this and a normal recession. Theres nothing fundamentally wrong with our economy. If we get the virus spread under control fairly quickly, then Economic Activity can resume and we want to make that rebound as vigorous as possible. Treasury secretary Steve Mnuchin speaking to our colleagues at cnbc this morning said that americans can expect direct checks quickly and he downplayed the record jobless claims. We call them checks in the mail but most of them will be direct deposits. It will be within three weeks. I think these numbers right now are not relevant and whether the
Consumers that arent spending and a country that doesnt know when it can safely reopen. An Unemployment Rate likely to be what we havent seen since the great depression. The fact that dozens of states are reopening is good news for many of those workers, but being open, just open, isnt enough. Businesses, they need customers. And with 1 in 4 americans that do have a job, taking some sort of pay cut, those consumers might not be willing to spend. Fewer customers means fewer businesses can survive. That means fewer jobs for those americans who really need to get back to work. Weve got reporters spread across this country coast to coast looking at every angle of this. Lets take you to south florida where the front page of the sun sentinel says the region will be reopening soon but will reopening be enough for the more than 1 million floridians who have filed for unemployment and all of those who dont have jobs but arent even eligible. Kerry sanders is in oakland park. Youve been talking t
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