HHS to work with GM under Defense Production Act to produce 30,000 ventilators for national stockpile
The Department of Health and Human Services on Wednesday announced a nearly $500 million contract with General Motors under the Defense Production Act to produce 30,000 ventilators that will be delivered to the national stockpile to help treat coronavirus patients.
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Trump's hard time with China
Trump's hard time with China
US President Donald Trump on Friday said he’s having “a very hard time with China” and hasn’t decided how to handle the international trade relationship, following a call between top trade representatives of the two nations. Trump spoke in a Fox News interview, after U.S. and Chinese trade officials discussed their phase-one trade deal Thursday night.
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3 million Americans are skipping mortgage payments
The Federal Housing Finance Agency said Tuesday that servicers will only need to advance scheduled monthly principal and interest payments to investors for four months once a mortgage borrower has entered forbearance. The FHFA’s move will reduce some of this strain on servicers whose mortgages are backed by Fannie Mae; Freddie Mac’s policies already only required servicers to make payments to investors for four months
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Fed's Neel Kashkari says coronavirus economic recovery 'could be a long, hard road'
Minneapolis Federal Reserve President Neel Kashkari said Sunday he expects the path to economic recovery from the coronavirus pandemic will be a "long, hard road," pouring cold water on hopes for a "V-shaped" rebound.
"But then again, we don't know if this support is going to be long enough," Kashkari added
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Europe moves closer to using crisis fund to help countries hit by the coronavirus pandemic
There is growing optimism that euro zone finance ministers will approve new funding to the countries wrestling with the coronavirus pandemic, but division over so-called "corona bonds" is likely to remain.
The three officials suggested ministers are likely to approve a credit line through the region's crisis fund — the European Stability Mechanism (ESM).
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