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25th March 2020
Congress sign largest bailout in US history

The US Senate has finally agreed a US fiscal stimulus package totalling 2 trillion dollars. The level of support to the US economy marks the largest US bailout in history. The package will stimulate both businesses and consumers with business cash injections and means tested cash handouts for struggling US households. The bill, which has now passed through the Senate, needs to pass through Congress later today which will finalise the deal. The bailout package has caused global equity markets to rally more than 10% on the news with some speculating this could be a false bottom as the global economy continues to grapple with the virus.