Money and Policy

Kodak’s $765 million loan agreement with the U.S. government to produce pharmaceutical ingredients was put on hold on Friday.

Combined, the four measures would inject about $165 billion of liquidity into the U.S. economy in the short-term and add $10 billion to the nation's deficit.

The Trump administration appears to have walked back its plan to require states to chip in for enhanced unemployment benefits after outcry from governors, including Gavin Newsom of California, Andrew Cuomo of New York and Arkansas' Asa Hutchinson.

Treasury Secretary Steven Mnuchin said Monday that he expects most states to administer the extra benefit by the end of August. 

Both Trump and Biden have stated their support of Social Security, but the two candidates have very different ideas about what to do with the program.

Since the program launched at the beginning of April, more than 5.2 million loans worth about $525 billion had been distributed, saving some 51 million jobs.

Treasury Secretary Steven Mnuchin said Monday that he believes Democrats are “willing to compromise” on a fourth coronavirus stimulus package, saying that if there is a “fair deal,” the Trump administration will “do it this week.”

The coronavirus pandemic continues to hit the U.S. Postal Service hard, as the beleaguered agency already reported a $2.2 billion loss from March to June.

Some 16 Republican senators on Wednesday threw their support behind a proposal by several airline unions to extend a payroll support program to avoid airline worker layoffs.  

Losses from coronavirus-related fraud, identity theft and price gouging have almost hit $100 million since the pandemic began in March.

Microsoft is looking for partners to share the burden of a potential TikTok purchase. The short form video sharing app could be worth $50 billion.