US Treasury Sec. Mnuchin: Democrats' proposal is a non-starter

Eren Sengezer FXStreet

Commenting on the US House Democrats' offer to reduce the coronavirus aid package by $1 trillion, US Treasury Secretary Mnuchin said that this proposal was a "non-starter."

Earlier in the day, US House Speaker Nancy Pelosi explained that the $1 trillion reduction in Democrats' coronavirus aid plan was aimed at shortening the duration of the aid.

Market reaction

Investors largely ignored this comment and Wall Street's main indexes continue to trade in the negative territory. As of writing, the S&P 500 (SPX) Index was down 0.15% on the day at 3,343.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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