Wall Street Executives have been invited to the White House for a meeting on the economic impacts of the coronavirus. The Hill reports:
The White House has invited Wall Street executives this week for a meeting to discuss the coronavirus’s economic impact, a person familiar with the plans told The Hill.
The discussions come as the stock market plunges amid uncertainty over the spread of the virus and oil prices crash over a potential price war among petroleum exporters.
On Monday, aides reportedly prepared several possible options for President Trump to respond to the turmoil as he returns from Florida, including expanding paid sick leave and offering cash to small businesses affected by the instability, a senior administration official told The Washington Post. The recipients of the invitation were not identified.
The fallout has damaged stock prices for several major American banks, including JPMorgan Chase, Bank of America and Wells Fargo.
As the virus continues to impact the economy it is becoming more of a pressing issue that the economy is assured of help from the government should it need it.