US Treasury Sec. Mnuchin: Democrats don't want Trump to have aid win pre-election, talks to continue

Anil Panchal FXStreet

Early Thursday morning in Asia, US Treasury Secretary Steve Mnuchin reiterated, via Fox News, his earlier call of no progress on the American coronavirus (COVID-19) stimulus. This time, the diplomat mentioned the opposition Democratic Party’s intention behind delaying the much-awaited aid package.

While the US policymakers held Democrats responsible for the recent failures to offer the fiscal help, he also mentioned that there’ll be a very, very big GDP number coming up.

Furthermore, the Trump administration member also praised Mr. President while citing the push to get to a deal on coronavirus relief.

Mentioning about the progress, Mnuchin said, “I and Pelosi have made significant compromises, have agreed to continue talks tomorrow. There is still more work to do in certain areas of talks.”

Market implications

As there is nothing new in these comments than market already aware, coupled with the early hour of the Asian open, there prevails a little reaction to the update. However, it’s worth mentioning that such disappointment from the fiscal talks have lately weighed on Wall Street.

Read: Wall Street Close: Bulls shudder in the face of dying stimulus hopes

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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