"Stephen Roach, Yale University senior fellow and former Morgan Stanley Asia chairman, has a warning for US Dollar bulls. The prominent economist says that the era of the US buck may be coming to an end and is forecasting a 35% decline soon in the US currency against its major rivals, citing increases in the nation's deficit and dwindling savings."The lecturer said during CNBC's 'Trading Nation' on Monday that the rise of China and the decoupling of the US from its trade partners is setting the stage for a dramatic weakening of the US currency in the next few years that is likely to end the supremacy of the monetary unit as the world's reserve currency."
"A coalition of conservative leaders sent a letter to President Donald Trump and Senate Majority Leader Mitch McConnell (R-Ky.) warning that the congressional spending in the coronavirus must stop because it's getting very close to $10 trillion, which is more than the government spent fighting the Revolutionary War, Civil War, and World War I and II combined."
"The Trump administration is preparing a nearly $1 trillion infrastructure proposal as part of its push to spur the world's largest economy back to life, according to people familiar with the plan."A preliminary version being prepared by the Department of Transportation would reserve most of the money for traditional infrastructure work, like roads and bridges, but would also set aside funds for 5G wireless infrastructure and rural broadband, the people said."
"If House Democrats have their way, a second batch of checks would be deployed to qualifying Americans. That's based on the HEROES Act it passed in May."Those payments would be similar to the first round – up to $1200 per individual or $2400 per couple. And this time eligible dependents would stand to receive $1200, up from $500, for a maximum of three per family."