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Key Financial News & Economic News
As protests took place in major cities over the weekend, many other Americans shrugged off social distancing to enjoy warm weather even as California, Texas and South Carolina reported their highest case numbers to date. Face masks and social distancing were scarce to nonexistent in the many marinas and boat docks along beaches as well as restaurants. Washington-area leaders on Sunday raised alarms that widespread protests over police brutality could lead to a new wave of coronavirus infections, wiping out progress as the region began reopening over the weekend. “When you put hundreds or thousands of people together in close proximity, when we’ve got this virus all over the streets, it’s not healthy,” Maryland Gov. Larry Hogan (R) said during an appearance on CNN’s “State of the Union.” Major retailers across the country are temporarily closing their stores in areas hit hard with protests against police violence. Target, Apple and Amazon-owned Whole Foods are among the retailers that announced they would shutdown locations temporarily or adjust store hours around citywide curfews. Some Apple, Target and Whole Foods stores were damaged by looting, as demonstrations turned violent in several cities across the U.S. The head of one of Italy’s top hospitals says the coronavirus is weakening as the country reports some of its lowest daily infections since March and begins easing restrictions. “In reality, the virus clinically no longer exists in Italy,” said the head of a Hospital in Milan.

Questions:
If you have not received your stimulus check yet that means it is going to be sent in the mail and not via direct deposit

Interest rates on student loans is zero percent
There is a zero percent interest rate assigned to all loans owned by the U.S. Department of Education. This is in effect from March 13 to Sept. 30, 2020. “There is nothing a student has to do to claim this interest benefit. It is something that is automatically happening,”. “The payment pause and interest waiver is essentially freezing your loans in time,” “The loan balance that you have now will be the loan balance that you have on Sept. 30. It will not change.” If you’re not sure what kind of loan you have and if you qualify, you can ask your servicer or log in to StudentAid.gov and look at your lender. 

New Stimulus Check:
The senate is back today from Memorial Day recess but it isn’t all good news… The Senate calendar for June 1 says it will convene at 3 p.m., proceeding to an executive session to resume the consideration of the nomination of Drew B. Tipton to become United States District Judge for the Southern District of Texas. Senate Majority Leader Mitch McConnell (R-Ky.) indicated while back in Kentucky last week that talk would increase in the coming weeks on another package, and one topic lawmakers on both sides of the aisle are pushing for in any deal is expanding a tax credit for businesses that retain workers. I forgot to go over this very important quote yesterday from Mitch McConnell. He said that “We’re taking a careful look at a fourth and final bill,” he said. “You could anticipate the decision being made on whether to go forward in about a month. And it will be narrowly crafted, designed to help us where we are a month from now, not where we were three months ago.”

#StimulusCheck #StimulusUpdate #Stimulus
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⚠️⚠️⚠️⚠️DISCLAIMER⚠️⚠️⚠️⚠️
I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Youtube video for entertainment purposes ONLY. IF stocks or companies are mentioned, Michael Wrubel MAY have an ownership interest in them — DO NOT make buying or selling decisions based on Michael Wrubel’s videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. financial advisor, or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Michael Wrubel. Any use of other media is by fair-use or license only.

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