WASHINGTON—Republican and Democratic lawmakers are increasingly calling on Congress to give money directly to American households to combat economic strains caused by the coronavirus pandemic.
The growing support for direct-deposited cash payments could turn into legislation in the next few days or weeks as lawmakers prepare a major bill to cushion individuals and businesses against the downturn.
And here's another article:
It's time for free money from Washington
The coronavirus crisis hasn't generated much unity in Washington, DC, where Democrats and Republicans continue to trade blame for the outbreak and shoot down each other's ideas. But one idea is already getting some bipartisan support: Sending government checks to every American to put spending money in their pocket.
Maybe this sounds like an overgenerous liberal giveaway. But Greg Mankiw doesn't think so. He's a Harvard economist who was a top official in Republican George W. Bush's White House. He agrees with Furman. "Considering the difficulty of identifying the truly needy and the problems inherent in trying to do so, sending every American a $1,000 check asap would be a good start," he wrote on his blog on March 13 .
Try to resist taking money out of your 401(k) during the coronavirus pandemic, Waukesha financial
WAUKESHA -- The Dow Jones Industrial Average dove 13 percent Monday. It was the worst drop in three decades, as fears deepen that the coronavirus will throw global economy into recession.
We connected with a financial adviser with Drake & Associates about what she is advising her clients to do right now with their retirement accounts.
Julia Fello with TMJ4 News replied, "So, you're saying don't remove the money [from 401K accounts]?"
Investing advice: How to keep money safe amid coronavirus market panic
The downturn marked a dark time for those with a toe in the market and sparked anxiety, especially among new investors, who had been riding high on continued market rallies over recent years.
However, it's important to remember that this is not the first — and won't be the last — market dip, and it can be good opportunity to get your investment strategy in check.
CNBC Make It spoke to financial experts to get their best advice on managing your investments amid the coronavirus downturn and beyond.
Not to change the topic here:
Here's How Much Money Buffett's Portfolio Has Lost in 3 Weeks | The Motley
Before the stock market rolling over, Berkshire Hathaway's portfolio, consisting of 52 securities, was worth approximately $257 billion. But as of the closing bell on March 12, Buffett's portfolio had shrunk in value to roughly $173 billion. On a nominal basis, Buffett has seen $86 billion in value erased as the stock market has plunged. And for Buffett, the pain has come from seemingly every industry and sector he has exposure to.
The same is true for Bank of America, which has seen its peak value in Buffett's portfolio fall from $31.9 billion to $19 billion. The big concern surrounding Bank of America being its reliance on net interest income. As the Federal Reserve looks to cut rates in order to spur lending activity, this'll work against BofA's earning potential. Combined, Apple and Bank of America account for $31.3 billion of Berkshire's $86 billion in "lost" value.
How (and Where) to Donate Money During the Coronavirus Outbreak – Robb Report
Covid-19 is officially a global pandemic. People are flocking to grocery stores to stock up on essentials. Public schools––where many students receive their only meals of the day––have been shut down around the country. The stock market is on shaky ground, and working from home has quickly become the new normal. It’s easy to be overwhelmed by the constant stream of updates, all while feeling powerless to change anything for the better.
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With many shops, restaurants and bars operating with truncated hours or closing to the public entirely , this period will be hard on many small businesses. But that doesn’t mean there aren’t ways to support them. Even if your local haunt has temporarily shut its doors, you can see if they have an online retail presence where you can purchase the same or similar goods. Buy gift cards for your favorite restaurants and order take-out if that option remains available.
Americans need money — not more reasons to spend — or the coronavirus recession could be
As coronavirus cases outside of China grow, the template for the current bear market that seems to fit best is what happened to stocks after 9/11.
• "I think this event is very similar to 9/11 in terms of the psychology of what's driving it. It's a fear based event" — JetBlue Airways CEO Robin Hayes
• "This is a fear event, probably more akin to what we saw at 9/11 than necessarily what we saw in 2009. I think you're seeing a suspension of activities, whether it be corporate activities, group activities, events where people get together in large numbers, all of which impact our demand set. So, I think it's really premature to try to be drawing too many corollaries." — Delta Air Lines CEO Ed Bastian
5 Smart Money Moves to Make During Coronavirus | Money
During such a turbulent period, it’s not just prudent but critical to think about your financial health, especially if you don’t have a cushy amount of wealth to fall back on. By acting strategically, you may be able to make this hard time a lot less so where your bank accounts and investments are concerned.
Whatever the case is, here are some sensible approaches to your money that could help guide you through the coronavirus outbreak.
Investing in stocks, as any financial planner will tell you, is a long game. In a national emergency while markets are volatile, it’s generally ill-advised to make any rash moves in that arena (though you should always aim to have a diversified portfolio).
Happening on Twitter
There's lower demand for air travel because of COVID-19. Giving corporate welfare to a few big companies cannot rev… https://t.co/8Jiao7Nmvz justinamash (from Third District of Michigan) Tue Mar 17 01:35:26 +0000 2020
This should read: "Support grows for taking $1,000 from every adult, giving the govt bureaucracy a cut, and giving… https://t.co/IZxsgRCF8M dbongino (from Florida, USA) Tue Mar 17 13:11:55 +0000 2020
Great move! Knowing that in the US, 40% of Americans do not even have $400 in savings for emergencies, this could… https://t.co/g2EXzVd17f VillanuevaEdgar (from Brooklyn, NY) Mon Mar 16 13:45:24 +0000 2020
It's crystal clear that @JoeBiden is ready to lead on Day 1. Imagine if he was in the situation right now leading t… https://t.co/CQhPyfMcKG malcolmkenyatta (from North Philadelphia) Mon Mar 16 00:15:22 +0000 2020
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