US Treasury Secretary Mnuchin: We have reached agreement on direct payments to Americans – Reuters
US Treasury Steven Mnuchin has crossed the wires again following Congressional discussions on Wednesday and stated that an agreement has been made on direct payments to Americans.
However, he also explained that the Trump administration would not accept Democrats' proposal for a $2.2 trillion coronavirus aid package, and indicated he wanted a deal closer to $1.5 trillion.
"We're not going to do a $2.2 trillion dollar deal," Mnuchin said in an interview with Fox Business Network.
Asked if a compromise of $1.5 trillion would be acceptable, Mnuchin said: "It's in that neighbourhood."
He said that he will possibly speak to Nancy Pelosi on Wednesday night, (Thursday in Asia), but said that he doesn't think progress will be made until the following day.
About the US economy, he said it is going a lot better.
Market implications
Stocks were uncomfortable with the lack of clarity on Wall Street into the closing hour of the session on a series of statements as follows:
S&P 500 drops as McConnell states Republicans and Democrats are far apart of virus relief
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
