by The Massive .9 Trillion American Rescue Plan is Just the Start Massive .9 Tr. American rescue plan to affect markets Yellen takes over at US Treasury, what to expect More spending initiatives to come How all this is positive for gold and silver prices The Biden Administration’s policies are positive for gold and silver prices. The .9 trillion – American Rescue Plan released on January 14 is just the beginning of spending initiatives. The plan is chocked full of both direct spending initiatives to combat the negative economic effects of the coronavirus, but also has sprinklings of campaign promise initiatives the administration will focus on getting passed. An overview of the proposed American Rescue Plan: trillion in direct aid to families including: a
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The Massive $1.9 Trillion American Rescue Plan is Just the Start
The Biden Administration’s policies are positive for gold and silver prices. The $1.9 trillion – American Rescue Plan released on January 14 is just the beginning of spending initiatives. The plan is chocked full of both direct spending initiatives to combat the negative economic effects of the coronavirus, but also has sprinklings of campaign promise initiatives the administration will focus on getting passed. An overview of the proposed American Rescue Plan: $1 trillion in direct aid to families including: a $1400 per-person check to most Americans; provide rental, food, childcare, healthcare, and utility assistance; expand paid leave and extend the unemployment benefit through September and increase it to an extra $400 per-week supplement; and expanded financial assistance to university students. $450 billion for communities and improved IT infrastructure: $350 billion of this is earmarked to support to first responders and other essential workers; the remining $90 billion is made up of initiatives which include small business grants; and support for tribal governments and transit agencies. |
Gold Price and US Dollar Index, Mar 2020 - Jan 2021(see more posts on gold price, US dollar, ) - Click to enlarge |
| $10 billion for improved federal information technology, with the majority of this is an initiative to launch a major new IT and cybersecurity shared services.
$400 billion for national vaccination plan and school reopening: this includes expanded coronavirus testing and expedited national vaccination roll-out plan, and funds to help schools with safe reopening. In additional to the initiatives the Biden plan proposes raising the minimum wage to $15 per hour, which is one of Biden’s main campaign policies. In fact, taking a moment to look back at Biden’s campaign policies the American Rescue Plan touches on many of them, such as “universal paid sick days and 12 weeks of paid family and medical leave”, free public university tuition for families that earn less than $125,000, increased national health care coverage (through both reversing Trump’s cuts to the Affordable Care Act and lowering the eligible age from 65 to 60 for Medicare coverage. The common denominator for all initiatives is more federal spending and support for individuals. Watch the latest episode of GoldCore TV |
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So, how is all this positive for gold and silver prices?The $1.9 trillion American Relief Plan is only the first of many spending initiatives. Others will follow to further support lower-income households, small businesses, and university students; remember Biden’s campaign policy of free public university tuition for families that earn less than $125,000. Increased spending on infrastructure and R&D is also in the cards. Gold Price and US Dollar Index
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Silver Price and US Dollar Index, Mar 2020 - Jan 2021(see more posts on silver price, US dollar, ) - Click to enlarge |
| Silver Price and US Dollar Index
Specifically, she pointed out that the US needs to address the issue in respect to China…
A lower US dollar will also be a huge step in the US reducing its massive trade deficit, which reached a new record in November 2020, the latest month data is available. |
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| NEWS and COMMENTARY
Stocks Rise to Record on Hope for New Aid Bill |
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Tags: American Rescue Plan,Commentary,Daily Market Update,Featured,newsletter,US Stimulus,US Stimulus and Gold