US Treasury Sec. Mnuchin: We’re going to update Senate On Coronavirus Relief Bill

Anil Panchal FXStreet

Following the objection by the Republicans and a suggestion by President Donald Trump that the Senate would make further changes to the measure, the Coronavirus Relief Bill appears to have hit a speed bump, as per CNN. To tackle the roadblock, US Treasury Secretary Steve Mnuchin is in the closed-door meeting with some of the senators after saying that they are going to update the Senate on coronavirus relief bill. It was also mentioned that the Trump administration member would not elaborate on size of additional US coronavirus stimulus package before he discusses it with the senate on Tuesday.

Additional quotes

Seeking 'big number' for additional US coronavirus stimulus legislation.

I and Senate GOP have worked out technical fix language to the House bill.

Yes, we have buy-in.

We have a lot more work to do.

FX implications

The news failed to provide a major market action as traders catch a breath after Monday’s bloodbath in global equities. However, S&P 500 Futures recovered 0.26% to 2,405 after the update’s release.

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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