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U.S. Economic Stimulus Update: New Measures for the Economy

Even though the U.S. Congress is slated to vote on an economic stimulus bill today, that news is actually being overshadowed by other economic stimulus and financial news:

  • Today in Rome, a G7 meeting is underway. The global economic players are there, including some who aren’t part of the G7: Russia, World Trade Organization, International Monetary Fund and the World Bank. As expected, one of the main topics of conversation is the global financial crisis and what can be done for world recovery out of this recession.
  • New bank stabilization plan could mean more capital for U.S. banks. Infusions of capital are supposedly needed in order to keep some of the biggest banks in the United States solvent.
  • The Obama Administration is proposing mortgage subsidies to help prevent further foreclosures. One of the hallmarks of this new proposal is that it would be aimed helping borrowers before they start missing payments.

The combination of a number of economic stimulus measures is adding some optimism to the financial markets, and providing an excuse for a bit of a rally today in equities around the world. Additionally, the euro and the sterling are gaining as risk appetite returns to the currency market.

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Posted in Financial News, Financial trends. Tagged with , , , , , , , .

By miranda
February 13, 2009

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