Will discuss responses to turbulent market
The White House announced that President Trump will meet with Wall Street executives on Wednesday to discuss responses to the market turbulence generated by the coronavirus outbreak. It is not yet clear who will attend the meeting.
The president met with his White House economic aides on Monday to discuss options for a stimulus package to counter the virus’ economic impact.
Earlier on Monday, Senate Finance Chairman Chuck Grassley from Iowa announced that he was exploring a tax relief proposal to counter the effect of the virus on the economy. “Several options within the committee’s jurisdiction are being considered as we learn more about the effects on specific industries and the overall economy,” a committee spokesman said in a statement.
Fears over the global spread of the coronavirus sent the market into a tumble on Monday. Adding to the muddy waters was an oil price war between Russia and Saudi Arabia that sent crude prices down by nearly a quarter.
As the Lord Leads, Pray with Us…
- For President Trump, Treasury Secretary Mnuchin, other Cabinet members and the president’s economic advisers as they address the turbulence in the American and global stock markets.
- For lawmakers on Capitol Hill as they consider various options on the regulatory role of the federal government in response to both the coronavirus and the economic impact.
- For faith to replace fear among Christians as they “cast all their anxieties on the Lord” and for those who don’t know the Lord to turn to Him.
Sources: Washington Examiner, Bloomberg
