10:08 am: Mnuchin working with Fed to provide $4 trillion in liquidity, trying to reach deal today with Congress
Secretary of the Treasury Steve Mnuchin said Sunday the administration is working with the Federal Reserve to offer up to $4 trillion in liquidity financing that can be used to support the economy.
“We can lever up to $4 trillion to help everything from small businesses to big businesses to get through the next 90 to 120 days,” Mnuchin said on Fox News Sunday.
Mnuchin also said the administration is trying to reach a deal with Congress today regarding an economic relief package that could top $1.8 trillion. Highlights of the package include small business retention loans that would give businesses two weeks of cash flow, a direct deposit for Americans with the average deposit being $3,000 for a family of four and enhanced unemployment insurance for people laid off because of the coronavirus.
Hospitals would also receive approximately $110 billion in aid, according to Mnuchin
ethanol price and crude oil price having positive relationship, oil price drop=ethanol price drop, revenue impacted, cost of feed stocks-cassava has been increasing significantly by doubled compared to year 2017, margin impacted.
USA is currently facing the exponential curve (growth) of their Covid-19 infections n deaths ... This period could be as long as 2 weeks to 2 months ... More lockdowns are needed to contain the spreading of this virus ... Equities n oil price could be affected by the lockdowns ...
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Friendship
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Posted by Friendship > 2020-03-22 14:13 | Report Abuse
Ok I wait below 0.10 on Monday