Скачать или смотреть Stimulus Checks THIS MONTH!! Treasury JUST Announced Specifics [Late Show - July 17]

This is your Second Stimulus Check update and stimulus check 2 update as of Friday, July 17th. We cover the second stimulus check, the stimulus update, and also the next stimulus package. ✅Join The Power Of Finance Investor Group: https://bit.ly/3aNRzAn

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🗞Article: https://www.nytimes.com/2020/07/17/us...

This morning Treasury Secretary Steven Mnuchin spoke before the House Committee on Small Businesses and he called on Congress to work with the Trump administration to pass additional stimulus legislation by the end of the month as the resurgent virus pandemic is leaving the trajectory of the economic recovery uncertain.
Mr. Mnuchin said that the next round of money to support the economy should be targeted to help industries that have been hardest hit by the pandemic, as well as smaller businesses and low- to middle-income families.
Mr. Mnuchin also said that the Paycheck Protection Program, which provides forgivable small business loans, should be extended but with a focus on helping the restaurant, hotel, travel and hospitality sectors.

He said currently they “are monitoring economic conditions closely, and certain industries, such as construction, are recovering quickly, while others, such as retail and travel, are facing longer-term impacts and will require additional relief.”
He explains how the stimulus measures should be targeted tot help these areas facing long term impacts
“We are also sensitive to the fact that certain areas of the country are experiencing increased numbers of cases of the virus.”
Cases are rising in 39 states, according to a New York Times database.

While Mr. Mnuchin acknowledged more areas will need help, he continued to suggest a robust recovery was ahead — a far different view than many economists as predicting given a surge in new virus cases and renewed restrictions on business activity.
“Recent improvements in unemployment insurance claims suggest that the job market has continued to strengthen in July,” Mr. Mnuchin said.
He is saying this because 1.3M new unemployment claims were filed last week and the weekly claims have been steadily decreasing since the start of the pandemic
In addition to this he explains how the retail sales report data for June showed that retail sales increase 7.5%

With Steven Mnuchin projecting economic growth that very well could mean we will see these $600/week and $2400/month benefits extended
An analysis by economists at the JPMorgan Chase Institute and the University of Chicago found that workers quickly increased their spending once unemployment payments began to arrive in their bank accounts.
According to the data, they spent about 10 percent more than they did before the pandemic.
That’s not surprising given estimates that as many as two-thirds of workers on unemployment have been receiving more money than they earned in their jobs, thanks to the federal supplement.
However should that benefit expire as scheduled at the end of the month, the analysis suggests, there would be abrupt consequences not only for millions of households, but also for the corners of the economy where they’ve been spending this money.

Congress and the White House have yet to agree on extending the payments, or whether to cap them at a less generous payout as the economic crisis stretches deeper into summer

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