U.S. could pump $800 billion or more into economy - Trump adviser Kudlow
WASHINGTON (Reuters) - The United States could pump $800 billion or more into the economy to minimize damage from the coronavirus outbreak if Congress passes a payroll tax holiday through year end, White House economic adviser Larry Kudlow said on Monday. 'We have an enormous fiscal plan. It's at least $800 billion and maybe more,' Kudlow told reporters, totaling up actions already taken and tacking on Trump's hoped-for tax relief
WASHINGTON (Reuters) - The United States could pump $800 billion or more into the economy to minimize damage from the coronavirus outbreak if Congress passes a payroll tax holiday through year end, White House economic adviser Larry Kudlow said on Monday.
"We have an enormous fiscal plan. It's at least $800 billion and maybe more," Kudlow told reporters, totaling up actions already taken and tacking on Trump's hoped-for tax relief.
"We have roughly $400 billion in ... fiscal assistance" already in the pipeline, Kudlow, a top Trump adviser, said.
Asked in an interview with Fox Business Network if the United States economy was headed for a recession, Kudlow declined to answer but he acknowledged the pain the ongoing outbreak of COVID-19 was having across the country.
"We're going to be challenged. It's going to be tough," he said.
Wall Street took a nose dive earlier on Monday as S&P 500 companies lost more than $2 trillion in value in the first few minutes of trading and trading on the three main U.S. stock indexes was halted for 15 minutes as investors panicked about the virus' impact.
(Reporting by Lisa Lambert and Tim Ahmann; writing by Susan Heavey; Editing by Chizu Nomiyama and David Gregorio)
This story has not been edited by Firstpost staff and is generated by auto-feed.
ATHENS (Reuters) - Greek police used teargas and water cannon to disperse people who had gathered in central Athens on Saturday to protest against mandatory COVID-19 vaccinations. More than 4,000 people rallied outside the Greek parliament for a third time this month to oppose mandatory inoculations for some workers, such as healthcare and nursing staff.
ISTANBUL (Reuters) - Two Turkish soldiers were killed and two were wounded in an attack on their armoured vehicle in northern Syria, and Turkish forces immediately launched retaliatory fire, Turkey's defence ministry said on Saturday. "Our punitive fire against terrorist positions is continuing," the statement on Twitter on said. It did not specify where the attack occurred, but media reports said it was in the al-Bab area.
By Marcelo Rochabrun SAO PAULO (Reuters) - Protesters took to the streets in several Brazilian cities on Saturday to demand the impeachment of far-right President Jair Bolsonaro, whose popularity has fallen in recent weeks amid corruption scandals against the backdrop of the pandemic. This week, news broke that Brazil's defense ministry told congressional leadership that next year's elections would not take place without amending the country's electronic voting system to include a paper trail of each vote. Bolsonaro has suggested several times without evidence that the current system is prone to fraud, allegations that Brazil's government has denied