Secretary of the Treasury Steven Mnuchin has announced a “stimulus package to the American worker” is in progress, with the goal of “sending checks to Americans immediately”. In a coronavirus press briefing now, the Treasury Secretary said “Americans need cash now, and the President wants to get cash now”. The…
Federal Reserve Reduces Bank Reserve Requirement Ratios to Zero Percent
March 15, 2020
The Federal Reserve has reduced the reserve requirement ratios of commercial banks to zero percent. As “effects of the coronavirus will weigh on economic activity in the near term and pose risks to the economic outlook”, the Board says they need to ensure banks can “lend to households and businesses…
Can the U.S. Legally Order a Mass Quarantine of its Citizens?
March 15, 2020
The Federal Government has the authority to quarantine its citizens in accordance with Section 361 of the Public Health Service Act and Section 70 of U.S. Code Title 42. Section 361 of the Public Health Service Act Section 361 of the Public Health Service Act states the federal government “is…
President Trump Declares Coronavirus a National Emergency
March 13, 2020
President Trump is “officially declaring a national emergency” with respect to the coronavirus. Declaration of a national emergency will authorize “the importation free of duty of food, clothing, and medical, surgical, and other supplies for use in emergency relief work” as well as entitles the U.S. government “to use, control,…