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Some paper checks may not reach recipients until mid-August.
"It looks like a depression scenario," according to the CEO of DoubleLine Capital.
For businesses that were struggling before the pandemic struck, the federal stimulus bill "may not be the economic life preserver companies and their lenders were hoping for."
Don't forget the WARN Act, a federal law that requires covered employers to provide employees with a 60-day advanced notice of impending layoffs.
The bill, passed by voice vote, now goes to President Trump's desk.
However, global recession is coming, he predicts.
Lawmakers, however, are already calling for more.
The Senate will vote on a House bill providing free testing. But the next step, getting money to Americans, has sparked disagreement.
The coronavirus pandemic is a shock to economies that were already weakening, he says.
Swift, strong action could help prevent a major economic crisis, economists and strategists say.
