US virus aid bill includes US$3,000 for families, $4 tril liquidity for Fed

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US virus aid bill includes US$3,000 for families, $4 tril liquidity for Fed
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Officials say further steps could be taken if crisis does not abate in 10 to 12 weeks. FMTNews Virus

US Treasury Secretary Steven Mnuchin at a meeting to discuss the coronavirus relief bill in Washington.

Trump administration officials hoped to finalise the legislation on Sunday and see a vote on Monday, Mnuchin said, adding that further steps could be taken if the crisis did not abate in 10 to 12 weeks. Nearly one in four Americans, or 80 million people, were under orders to close up shop and stay home as New York, California, Illinois, Connecticut and New Jersey instituted statewide lockdowns to try to contain the rapid spread of the highly contagious respiratory illness.

“This is a very unique situation that we’ve never had before. This is the government has self-imposed shutting down large parts of the economy. And as soon as we can get the medical situation under control, we’re going to reopen it.”

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