Trump wants to send Americans $1,000 checks to cushion virus economic shock

Reuters | Washington DC | Updated: 17-03-2020 23:10 IST | Created: 17-03-2020 22:14 IST
Trump wants to send Americans $1,000 checks to cushion virus economic shock
Representative image Image Credit: ANI

U.S. President Donald Trump announced a plan on Tuesday to send money to Americans immediately to ease the economic shock from the coronavirus crisis and said military-style hospitals will likely be deployed to virus hot zones to care for patients. Treasury Secretary Steven Mnuchin, appearing with Trump in the White House press briefing room, said he was talking with congressional leaders on a plan to send checks immediately to displaced Americans. Trump said some people should get $1,000. Scrambling to get a grip on an unpredictable virus that has disrupted Americans in all walks of life, Trump predicted the economic challenge will be tough short term but that the economy will eventually rebound.

"We're going to win and I think we're going to win faster than people think, I hope," said Trump, surrounded by top advisers on the coronavirus crisis. Vice President Mike Pence said the government was urging construction companies to donate N95 face masks to local hospitals and not purchase any more to help doctors.

Pence said the Army Corps of Engineers can deploy field hospitals quickly to help handle the influx of virus patients. Trump said he was looking at sites where they might be needed. Trump on Monday urged Americans to work diligently for 15 days to try to slow the spread of the virus by avoiding crowds and staying home for the most part.

"We're asking our older generation to stay in their homes. ... We're asking the younger generation to stop going out," said Trump coronavirus adviser Deborah Birx. The abrupt slowdown has staggered the U.S. airline industry and other economic sectors and has left an increasing number of Americans unemployed.

With markets gyrating and mostly on a downward trend, Mnuchin said the U.S. stock markets should remain open to assure Americans that they can access their money. "Everybody wants to keep it open. We may get to a point where we shorten the hours if that's something they need to do, but Americans should know that we are going to do everything that they have access to their money at their banks, to the money in their 401(k)s, and to the money in stocks," Mnuchin said.

Trump urged Americans not to travel and said he had not ruled out travel restrictions to parts of the country. He said Americans just "enjoy their living room."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Blockchain in Healthcare: Opportunities and challenges

The use of blockchain in healthcare is a relatively new innovation with many of its uses still being explored and related technologies being developed, improved, and scaled. ...

Debate surrounding vaccine passports and development misses bigger picture

... ...

Blockchain vs IOTA: Looking for a better alternative

... ...

For stability, Iraq needs to crack down on corruption

... ...

Videos

Latest News

U.S. trade chief says WTO vaccine talks should remove obstacles to production

U.S. Trade Representative Katherine Tai said on Wednesday that her objective in World Trade Organization talks over a COVID-19 vaccines waiver is to remove intellectual property as an obstacle to increasing vaccine production.She told the S...

U'khand to import 20 lakh doses of Sputnik

Uttarakhand will import 20 lakh doses of Sputnik vaccine over the next two months, officials said on Wednesday.Giving the information at a press conference here, Chief Secretary Om Prakash said a five-member committee has been constituted f...

Oly-bound fencer Bhavani had wanted to skip qualifying event as her mother was infected with COVID

Olympic-bound fencer Bhavani Devi on Wednesday revealed that she was battling the agony of leaving out her coronavirus-stricken mother during the qualifying tournament in Hungary.Bhavani said she wanted to skip the qualifying tournament in ...

CarDekho appoints Mayank Jain CEO of auto biz

Automotive platform CarDekho Group has appointed media industry professional Mayank Jain as the CEO of its new auto business. Jain will be responsible for strengthening the organizations new auto offering, and deepening engagement with OEMs...

Give Feedback