Cliff Notes - Ruth's Crisp Steak House
April 27, 2020
In This Week's Update:
- Fiscal and monetary policy action to bridge the economic impact of the coronavirus has taken shape – and now the key is policy execution to ensure households and businesses get the cash being promised.
- Oil prices crashed last week amid plunging demand and a surging demand for oil storage, dragging down other risk assets such as stocks.
- The U.S. launched an additional $484 billion relief package, including a $321 billion top-up of its funding for small businesses. That takes the fiscal support passed by Congress to nearly $3 trillion in the past two months.
- Several large public companies, like Ruth’s Chris, came under withering media attack for taking Payroll Protection Plan funds intended supposedly for only “small” business. Used to only having their steaks crispy hot in the fire, and not themselves, they returned the funds.