US Treasury Secretary Mnuchin: We're ahead of schedule on delivering checks in the mail to Americans

Ross J Burland FXStreet

US Treasury Secretary Steven Mnuchin says we're ahead of schedule on delivering checks in the mail to Americans.

Key comments

Mnuchin says he expects 80 million Americans to get direct deposit payments by Wednesday.
Mnuchin says the administration wants a bipartisan bill for further small business relief.
We think there is a likelihood we will need more money.
Wants a bipartisan bill for further small business relief.

Stimulus measures have been seen as a positive by markets, although, longer-term, it will see the US in a state of flux considering how much debt will have accrued with the risk of inflation and higher rates. However, it is one day at a time and the economic lockdown cannot be avoided. The sooner the US gets its economy going again the better, but that doesn't come without health risks which is something that is acknowledged by the US President Donald Trump. For that matter, gold is the best of the bunch and ha reached fresh seven-year highs, supporting ASX200 from falling deeper into the red in today's session. More on that here – ASX200 lackluster, struggles at tough resistance despite spike in precious metal miners

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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