US House Speaker Pelosi: House will pass the bill on Monday increasing stimulus checks to $2,000

Anil Panchal FXStreet

In a reaction to US President Donald Trump’s signing of the coronavirus (COVID-19) aid package, House Speaker Nancy Pelosi backs the national leaders’ surprise support to the much-awaited stimulus passed by the Congress.

The Republican Party member crosses wires, via Reuters, while the House debates over the $2,000 paycheck amount, versus the previously agreed $600 figures. Even so, the Treasury has already said that the initial $600 paychecks will be disbursed this week. Also, if Congress approves top-up payments they'll be sent separately.

Key quotes

House will pass the bill on Monday increasing stimulus checks to $2,000.

If house cannot pass bill with short debate and two-thirds majority, it will pass it under regular procedures requiring simple majority.

FX implications

Although the news helps keep the week-start market optimism, a lack of immediate reaction could be witnessed amid the holiday-thinned trading and also due to the start to Tuesday’s Asian session.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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