Welcome to The Fragreport. Our blog serves as an insightful resource covering markets, financial topics, culture and current affairs.
We alerted our readers last week of a possible meeting scheduled for June 17 between US and Chinese officials in Hawaii and promised a follow-up analysis. Rumors of the meeting reported by the POLITICO were true, and the outcome of the secret seven-hour meeting between US Secretary of State Mike Pompeo and China’s top diplomat Yang Jiechi remain somewhat unclear.
The Federal Reverse’s Federal Open Market Committee (FOMC), the central bank’s main body for monetary policy, decided to leave the federal funds rate unchanged at 0.00%-0.25% on Wednesday, June 10. The members of the FOMC expect the rate will remain unchanged until 2022.
As the United States emerges from lock-down measures, actions in recent weeks by the US and China on the geopolitical stage seem to be solidifying what many analysts are calling Cold War 2.0.
Recently enacted legislation provides relief for families and businesses impacted by the coronavirus pandemic. The high level summary below highlights some of the provisions that primarily are geared toward individuals and business owners.
After intense bi-partisan negotiations in both houses of Congress, President Donald Trump signed into law the largest stimulus package in the history of the United States on Friday, March 27, 2020. The $2 trillion CARES Act, a fiscal stimulus bill, will provide aid to American families, individuals, and businesses who have been affected by the economic impact of the novel coronavirus (COVID-19).
A timeline of actions taken by the Federal Reserve and Federal Government in addressing the economic impact of the coronavirus (COVID-19).
