What is the Treasury doing in the wake of the coronavirus pandemic?

May 06, 2020

TITLE PLACEHOLDER | Money In :60 | GZERO Media

So, as you saw, the Treasury Department announced on Monday that they're going to be borrowing $3 trillion in order to help pay for some of the initiatives around the coronavirus pandemic. That's just in the second quarter alone. In the third quarter, they're going to borrow an additional $677 billion. The Congressional Budget Office, the CBO, predicts that the federal budget deficit is going to hit a record $3.7 trillion this year alone.

What is the mission of the Treasury Department?

So, the mission of Treasury is to promote economic prosperity and to also ensure the financial security of the United States. That can range in a wide array of activities, everything from advising the president on economic matters to promoting economic sustainable growth, as well as ensuring the security and stability of the financial system.

Now the real work begins

Democratic nominee for New York City mayor Zohran Mamdani getsures on stage after winning the 2025 New York City mayoral race, at an election night rally in the Brooklyn borough of New York City, New York, USA, on November 4, 2025.

REUTERS/Jeenah Moon

Democratic socialist Zohran Mamdani was elected mayor of New York City yesterday following a social-media-first campaign that was laser-focused on affordability. His real challenge, though, has only just begun.

What is the Treasury doing in the wake of the coronavirus pandemic?

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What is the Treasury doing in the wake of the coronavirus pandemic?

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More from GZERO Media

These days, US farmers aren’t just worried about the weather jeopardizing their harvests. They’re keeping a close eye on geopolitical storms as well.

As AI begins to understand us better than we understand ourselves, who will decide how it shapes our world? Ian Bremmer cautions, "The winner or the winners are going to determine in large part what society looks like, what the motivating ideologies are."

The United States is #winning. But while the short-term picture looks strong, the United States is systematically trading long-term strategic advantages for more immediate tactical gains, with the accumulating costs hiding in plain sight.

Let no one drain your peace #PUPPETREGIME

GZEROMEDIA

Subscribe to GZERO Media's newsletter: Signal

Beneath steady wage growth, the labor market is shifting. New data from Bank of America points to weaker job growth and widening income gaps that could reshape recovery trends. Subscribe to Bank of America Institute for the full view of the US job market.

Democratic socialist Zohran Mamdani was elected mayor of New York City yesterday following a social-media-first campaign that was laser-focused on affordability. His real challenge, though, has only just begun.