US: Pelosi, Schumer not yet endorsing the bipartisan infrastructure bill outright
Despite a deal reached on a "framework" for an infrastructure spending bill, US House of Representatives Leader Nancy Pelosi and Senate Majority Leader Charles Schumer are not endorsing the Bipartisan bill outrightly until they see the details, according to the US media reports.
Schumer: “We’ll let them announce it first. Let’s see it. We support the concepts we’ve heard about it.”
Earlier on, a Democratic negotiator, Joe Manchin, said after the group met with White House officials, "we came to an agreement on a plan that we have and we're just going to try to wrap it up tomorrow.”
White House spokeswoman Jen Psaki said, “the group made progress towards an outline of a potential agreement, and the president has invited the group to come to the White House tomorrow to discuss this in person.”
A bipartisan group of 21 senators, or "G-21." has been working on a $1.2 trillion, eight-year bipartisan infrastructure plan.
Market reaction
The risk sentiment remains tepid amid mixed cues on the US infrastructure bill, with the S&P 500 futures on a steady recovery, although remains in the recent trading range.
Meanwhile, the US dollar index holds onto the recovery gains of around 91.80 as of writing.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
