Mnuchin’s $3 Trillion; ECB Ultimatum; Mexican Cash: Eco Day

05 May 2020, 05:14 PM IST

(Bloomberg) -- Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

U.S. Treasury Secretary Steven Mnuchin plans to boost U.S. borrowing from April through June by an unprecedented $3 trillion to support the economy
The Federal Reserve is close to standing up two corporate lending programs that could buy as much as $750 billion in debt and exchange-traded funds under its emergency coronavirus actions
A U.S. recession is all but officially underway. The speed at which the economy has ground to a halt has rendered much of the traditional economic data outdated before it’s even published. To fill the gap, Bloomberg economists created a weekly dashboard of high frequency, alternative and market-based indicators
The European Central Bank’s quantitative-easing program looks set to fight another day. German judges issued a three-month ultimatum to fix flaws in the program, which is a critical part of the ECB’s battle against economic turmoil
In Europe, more than 40 million workers have been furloughed during the shutdowns, based on data from the region’s biggest economies
In Mexico, remittances reached a record high in March, surprising analysts who were expecting a decline, as workers in the U.S. rush to send savings back home amid a worsening economic outlook.