US Pres. Tump: Want a bigger stimulus deal than Pelosi's plan
|US President Donald Tump, speaking to reporters, has said that he ''wants a bigger stimulus deal than Pelosi's plan''.
Prospects for U.S. fiscal stimulus before Election Day dimmed last week with House Speaker Nancy Pelosi demanding the White House revamp its latest offer and Senate Republican leader Mitch McConnell pushing a smaller-scale strategy that Pelosi quickly rejected.
US Treasury Secretary Steven Mnuchin told House Speaker Nancy Pelosi that President Donald Trump would "weigh in" with Senate Majority Leader Mitch McConnell if an agreement is reached on a new pandemic relief package.
House Republican leader Kevin McCarthy, however, said he does not expect an agreement to be reached ahead of the Nov. 3 election as long as Pelosi is involved.
McConnell’s proposal to vote next week on just one provision replenishing funds in the Paycheck Protection Program for small businesses appeared to stoke opposition even from President Donald Trump, who tweeted “Go big or go home!!”
Pelosi told House Democrats on a call Tuesday that McConnell’s proposal was a non-starter, according to participants. She warned that Democratic priorities would be cut in any deal based on such an agreement, they said. In the wake of Trump’s “go big” tweet, she told colleagues that the Democratic side has more leverage than ever, three participants said.
Due to the lack of traction in talks, equities were struggling to stay above water last week, with both the Dow and S&P 500 losing ground for three of the five business days.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.