At a rally tonight in Tennessee, the president reacted to a Hawaii judge halting his new "watered down" travel ban and went a touch further, saying "I think we ought to go back to the first one and go all the way":
Why it matters: As NYTimes reporter Maggie Haberman noted on Twitter: "What Trump just said is among the worst things he could have said if his goal was to make his travel E.O. legal."
Illustration: Aïda Amer/Axios
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Fed Chairman Jerome Powell at a press conference in March. Photo: Eric Baradat/AFP via Getty Images
The Federal Reserve announced Thursday that it will support the coronavirus-hit economy with up to $2.3 trillion in loans to businesses, state and city governments — made possible in part by Treasury funds set aside in the government stimulus package.
Why it matters: The Fed has taken more action amid the coronavirus outbreak than it has in any other financial crisis in U.S. history in an effort to blunt the effects of the resulting economic shutdown.
Illustration: Sarah Grillo/Axios
Before the Paycheck Protection Program formally launched last Friday, we knew two things: The rollout would be rocky, and the initial $250 billion wouldn't be enough for America's small businesses.
The state of play: Banks and government officials have been working to smooth out the process. On Thursday, Senate Majority Leader Mitch McConnell's attempt to pump another $250 billion into the program via unanimous consent was blocked by Democrats, who are proposing an alternative that includes billions more for hospitals and states.