Online banking struggles as people check for coronavirus stimulus checks
Several banks across the US reported trouble with online and mobile banking Wednesday -- the same day that coronavirus IRS stimulus checks are expected to hit bank accounts of those eligible. A spokeswoman for PNC Bank said customers have experienced intermittent access because of "unprecedented volume of customers using these channels to check their accounts for Economic Impact Payments and other forms of financial hardship relief." She added
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A Backdoor Central Bank Bailout of State Governments
To ensure the flow of credit to these cash-strapped governments, the Federal Reserve has embarked on a previously unthinkable act: creating up to $500 billion in new fiat currency and lending it directly to states, cities, and counties through its Municipal Liquidity Facility. Now that the Federal Reserve is actively engaged in creating new fiat currency to fund state and local governments, Congress must step in.
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Coronavirus stimulus bill helps American retirement account holders
The new coronavirus stimulus bill lets people make early withdrawals from retirement accounts without paying the typical 10% penalty. Normally, if you want to pull the money out of a 401(k), 403(b) or other retirement accounts before the age of 59 and a half, you'll pay an additional 10% penalty.
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Bank of England brings interest rates to 0.1% to fight coronavirus
Only a week after the Bank of England cut interest rates down to 0.25 percent, the lowest point in the bank's 325-year history, interest rates have once again been lowered to 0.1 percent, the new lowest point in the institution's history. The move comes as Treasurer Rishi Sunak met with UK's finance leadership to announce further stimulus packages to combat the rising economic panic caused by the COVID-19 outbreak.
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TheGuardian
UAE, Saudi Arabia, Egypt announce $46 billion coronavirus stimulus package
The governments of the UAE, Saudi Arabia , and Egypt have announced massive stimulus packages for their countries to combat the economic fallout from the coronavirus pandemic, with the UAE authorities announcing 27 billion USD to help businesses stay afloat, Saudi Arabia committing to 13 billion USD, and Egyptian President announcing 6 billion USD to combat the COVID-19 infection.
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CNN