As a follow up to our previous Blog post: COVID-19 Update: For every Action there is an Equal and Opposite Reaction, we wanted to share further developments of new actions being taken by governments, specifically the US.
On Friday March 27th, President Donald Trump signed the largest stimulus package in U.S. history – A $2 trillion bill intended to help the economy weather the impacts of the coronavirus.
“We’re going to keep our small businesses strong and our big businesses strong.” Trump told reporters at the White House.
Tom Porcelli, RBC Capital Markets Chief U.S. Economist, says this stimulus package is enough to “backfill” the U.S. economy until mid-May. He believes that the efficiency of the package after May will depend on how successful social distancing proves to be.
For more information about this historic stimulus package and its impacts on the economy please click on the following link to listen to the 10 minute interview with RBC’s Tom Porcelli: RBC Thought Leadership: This is the Backfill
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