US Pres. Trump: Americans will get another stimulus check – Nexstar


Nexstar has reported that a top aide to Vice President Mike Pence said Tuesday that the White House is looking at a second stimulus package totaling around $1 trillion.

“There’s obviously been a lot of stimulus put in the system over the last couple bills and so the price tag for us would be that,” Marc Short, Pence’s chief of staff, said during an interview on Bloomberg Radio.

Lead paragraphs

Mohsin noted provisions for the next round of relief could include changes to unemployment benefits, a back-to-work tax credit for workers returning to their jobs, a payroll tax cut, liability protections and tax decisions for companies for workers’ restaurant and entertainment expenses.

This report follows White House Chief of Staff Mark Meadows signaling support Monday for additional stimulus while noting there are proposals beyond the direct checks sent to taxpayers earlier this year.

“I think the president’s been very clear that he’s supportive of another stimulus check,” White House Chief of Staff Mark Meadows said Monday.

At the end of June, Senate Majority Leader Mitch McConnell said the Senate will consider a second stimulus package in July.

“As you’ve heard suggested, I said back in March we would take another look at this… probably in July… take a snapshot of where we are, both on the healthy front and the economic recovery front, and decide at that point what needs to be done further,”

McConnell said last week.

Market implications

In late March, President Trump signed a $3 trillion stimulus package into law that included one-time payments of up to $1,200 for eligible Americans.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed.

A second check or prepaid debit card as the pandemic continues will only go to serve the inflation playbook in financial markets and that is supportive of gold prices and potentially damaging for the US dollar, longer-tem. 

Long-term inflation expectations are rising in sync with risk-on behavior, while rates-vol remains deeply constrained amid uber-supportive policy, fueling a process that weighs on real yields," analysts at TD Securities explained. 

With 10y breakevens continuing to print new post-Covid highs, the normalization in inflation expectations may remain a powerful driver lifting gold prices deeper into $1,800/oz territory. 

And, looking forward, the world-war era fiscal and central bank stimulus, the change in the central bank template that will incorporate 'symmetric inflation targets' and unwinding globalization, also suggest that inflation-hedge assets may grow in popularity. 


 

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD loses 1.1800 amid escalaing US-Sino tensions

EUR/USD dips sub-18 after the US reported an increase of 1.763 million jobs in July, better than estimated but pointing to a deceleration. Escalating Sino-American tensions are boosting the dollar and fiscal talks are eyed. 

EUR/USD News

GBP/USD resumes decline, weighed by UK concerns, US-China conflict

GBP/USD trades at fresh weekly lows below 1.3050 as the dollar got a sudden boost from mounting tensions between the world's two largest economies. UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever.

GBP/USD News

Gold: Meteoric rally falters, closes the week below $2050

Dollar comeback poured cold water on gold’s record-breaking rally. US-China woes, US stimulus deadlock and upbeat NFP boosted the USD. The focus stays on US-China trade talks amid light US docket next week.

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI extends slide toward $41, on track to post weekly gains

Crude oil prices continued to fall on Friday and the barrel of West Texas Intermediate (WTI) touched a daily low of $41.05 before recovering modestly.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures