Largest Stimulus Package in U.S. History

Mar 30, 2020 | Frank Sakellariou


Share

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
 
Disclaimer
This information is not investment advice and should be used only in conjunction with a discussion with your RBC Dominion Securities Inc. Investment Advisor. This will ensure that your own circumstances have been considered properly and that action is taken on the latest available information. The strategies and advice in this report are provided for general guidance. Readers should consult their own Investment Advisor when planning to implement a strategy. Interest rates, market conditions, special offers, tax rulings, and other investment factors are subject to change. The information contained herein has been obtained from sources believed to be reliable at the time obtained but neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers can guarantee its accuracy or completeness. This report is not and under no circumstances is to be construed as an offer to sell or the solicitation of an offer to buy any securities. This report is furnished on the basis and understanding that neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers is to be under any responsibility or liability whatsoever in respect thereof. The inventories of RBC Dominion Securities Inc. may from time to time include securities mentioned herein. RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. RBC Dominion Securities Inc. is a member company of RBC Wealth Management, a business segment of Royal Bank of Canada. ® / TM Trademark(s) of Royal Bank of Canada. Used under licence. © 2020 RBC Dominion Securities Inc. All rights reserved.
 

Categories

Economy