Pelosi spokeswomen Hammill: Today's conversation brings us closer to ... legislation

Ross J Burland FXStreet

US House Speaker Nancy Pelosi's spokeswomen, Drew Hammill has tweeted details of the call between Pelosi and the Treasury Secretary Steven Mnuchin.

The Speaker & Secretary Mnuchin spoke today at 2:30 pm for 48 minutes. Today's conversation brings us closer to being able to put pen to paper to write legislation. With the exchange of legislative language, we are better prepared to reach compromise on several priorities. (1/3)
— Drew Hammill (@Drew_Hammill) October 21, 2020

Differences continue to be narrowed on health priorities, including language providing a national strategic testing and contract tracing plan, but more work needs to be done to ensure that schools are the safest places in America for children to learn. (2/3)
— Drew Hammill (@Drew_Hammill) October 21, 2020

The Speaker and Secretary plan to speak again tomorrow hopefully with further guidance from committee chairs as they work to resolve open questions. (3/3)
— Drew Hammill (@Drew_Hammill) October 21, 2020

Market implications

Stocks may soon grow tired of hearing 'tomorrow' every day, as it never seems to arrive.

However, it is inevitable that a stimulus package will be made available but the uncertainty of the US elections and the possibility of a contested outcome, thus the delay in a package is what will concern investors the most.

Meanwhile, the US indexes ended lower on the day as stimulus hopes faded into the close, assisting the greenback to come off its lows.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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