The following are the headlines discussed at Aldwin Callen's Monday morning briefing:
- As Congress considers $2 trillion in new fiscal expenditure, the Fed said it will buy assets "in the levels required" to ensure the smooth operation of US markets.
- Claims for US unemployment benefits rose by 70,000 last week; however, firms like Amazon and Walmart look to add more than 100,000 jobs each.
- Nearly 33% of Americans have been ordered by their states to stay at home in order to stop the spread of the coronavirus, with the National Guard and FEMA called in to assist New York, California, and Washington.
- US retail sales fell 0.5% in February, an early sign that consumer spending was starting to be impacted even before the coronavirus spread widely in the US.
- China is gradually lifting its two-month-long siege of Wuhan; everyone entering China is being checked for the coronavirus.
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