What Wall Street wants Donald Trump to do to save the stock market

  • 📰 Newsweek
  • ⏱ Reading Time:
  • 67 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 52%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

As the coronavirus undid the economic gains of the past three years, financial professionals told Newsweek what President Trump should do.

President Donald Trump participates in a meeting with the CEOs of major banks to discuss the coronavirus covid-19 response during a meeting in the Cabinet Room at the White House, on March 11, 2020 in Washington, DC.For three years, Donald Trump had boasted about the booming stock market, citing it as validation of his economic leadership.

The street was equally disappointed with the economic component of Trump's speech. He reiterated his desire for the payroll tax holiday until the end of the year; said the administration would push back the traditional April 15 tax deadline; and would add $50 billion to the Small Business Administration's lending capacity. Most Wall Street economists were happy with those ideas—but frustrated that the Trump administration didn't go nearly far enough.they want to see.

The fiscal response needs to be as bold. Scott Gottlieb, Trump's former FDA chief, said, ''Congress needs to step in and fashion fiscal action that will help states and locales to break the chain of transmission." The only way to do that is through aggressive ''social distancing." Canceling NBA games and March Madness, for example, is a start.

That's why many Wall Street economists favor, in addition to the payroll tax holiday, the government cutting checks directly to low income Americans affected by the outbreak. This would be in addition to temporarily eliminating the requirement that an unemployed worker needs to be looking for work to receive unemployment benefits . At a moment when social distancing is required, going out for face-to face job interviews is impractical.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

Resign?

resign

Too late for that!

RESIGN.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 468. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market news live: Stocks slump, trigger circuit-breaker after Trump declares Europe travel restrictionsUPDATES: Stocks slump, trigger circuit-breaker after Trump declares Europe travel restrictions Stopping the stock market that's cutting into my profit I been betting on the stock market to go down to make my money your cost to me thousands of dollars
La source: YahooNews - 🏆 380. / 59 Lire la suite »