As the pandemic drags on, governments and banks worldwide are taking drastic measures to keep economies afloat. Closer to home, though, the flowers are blooming and the grass is green and growing. And while Easter was definitely different this year, we hope it was happy for you and yours. On to this week’s links!
Congress passed the $2 trillion CARES Act in March to bolster the economy against the effects of the coronavirus. That’s a lot of money, but apparently it wasn’t enough: On April 9, the Federal Reserve announced a further $2.3 trillion to provide money that will help fund businesses, households and state and local governments. According to its press release, “The Federal Reserve remains committed to using its full range of tools to support the flow of credit to households and businesses to counter the economic impact of the coronavirus pandemic and promote a swift recovery once the disruptions abate.” And in case you were wondering (I was), Sarah Hansen at Forbes helps explain the difference between this latest stimulus package and the CARES Act.
Ahead of Congress passing CARES on March 27, the European Central Bank on March 18 announced its 750 billion-Euro Pandemic Emergency Purchase Programme. This program will allow the ECB to purchase private and public sector securities, expand the existing corporate sector purchase programme (CSPP), and relax the standards for collateral for institutions to qualify for refinancing.
and More Money.
And last Monday, the Japanese government rolled out a 108 trillion yen ($989 billion) relief package to help businesses and families get through the pandemic.
Recession or Progression?
We like to follow economic and housing trends here at Attainable Home, and we appreciated this calming article from Patrick Burgan over at the Vindicator. With 2008 fresh in our memories, it’s easy to panic about the value of your home plummeting because of the current recession. But historically, recessions haven’t always hurt the housing market. He notes (and we agree) that “Your home is still one of the best investments you can make, as it is one element that tends to grow in value even when everything around you seems to be falling.”
Thousands of people have been laid off or let go from “non-essential” jobs as we try to flatten the curve in the U.S. On the other side of that, though, are companies who are facing more demand and are looking to hire. Glassdoor.com has a list of businesses that are adding employees, if you’re looking for a job.
See you next week!