- The Fed in March unveiled lending programs it said could provide $2.3 trillion to the economy. So far, that has totaled just $143 billion, or 6.2% of the total firepower.
- There are several likely explanations for why what was supposed to be an infusion of cash into the economy instead has been a comparative trickle.
- The programs, particularly the Main Street lending initiative, are complicated. There also may be less of a need as the economy improves.
- “There are also early signs that demand for the new facilities has been relatively muted, perhaps because the terms on offer have proved relatively unattractive,” said economist Andrew Hunter of Capital Economics.
France last year applied a 3 percent levy on revenue from digital services earned in France but suspended collection of the tax. The French Finance Ministry has sent out notices to big tech companies liable for its digital service tax to pay the levy as planned in December, the ministry said on Wednesday. Source NBCNews
- Bitcoin soared above $19,000 on Tuesday for the first time in nearly three years, bringing the cryptocurrency within spitting distance of its 2017 record.
- The price of Bitcoin jumped as much as 3.3%, to $19,272.21, through the morning.
- Cryptocurrencies have garnered new interest from both Wall Street and Main Street in recent weeks as companies and traditional investors embrace digital tokens.
- The rally lifted other popular cryptocurrencies including Ethereum and Ripple. Source BusinessInsider
The European Commission issued on Wednesday a warning to Athens that the market support measures during the pandemic should not be excessive so that they do not jeopardize the sustainability of the public debt. It also highlighted that the debt will remain at risk unless growth is supported, which makes it imperative that reforms continue and the Next Generation EU resources are put to full use. Source Ekathimerini
