New Delhi, Business Desk. US President Donald Trump on Friday announced a two thousand billion dollar economic package for the Coronavirus-affected economy. It is the largest economic package in US history. Trump told reporters at the White House that the need for immediate relief from this economic package would be met. He said that through this fund America will strengthen its small and big businesses. According to the news of the news agency Bloomberg, the infusion of funds under this scheme will help big companies, small businesses and people whose income has come to a standstill due to the measures taken to prevent the virus.
The US has emerged as the new center of the coronavirus, where more than one million people are reported to be infected. The US has overtaken China in terms of infection. It is noteworthy that the stock markets closed on Friday after climbing for three days. Traders booked profits before the announcement of the economic package. During this period, the S&P 500 declined by 3.4% and the Dow by 4.1%.
Trump urged Congress to finalize the package as soon as possible. Earlier, he had said that he would provide financial help to working families and small businessmen.
Looking at the long-term impact on the economy, Trump is considering easing the Federal Guidelines. However, many governors, public health experts and some members of his government are also in favor of prolonging the restrictions.