President Trump “could not be more pleased” with how the recovery is progressing but wants more aid/relief/stimulus to move ahead, said US Treasury Secretary Steven Mnuchin, who called on Congress to pass a “targeted” bill.
He said Sunday in a TV interview that growth will be “phenomenal,” snapping back from the Q-2 contraction, as the impact of coronavirus shutdowns fade. He noted that some are predicting GDP growth of 30% to 35%.
Secretary Mnuchin is calling on Democrats, led by House Speaker Nancy Pelosi (D-CA), to work with The Administration on what some have called a “skinny” economic relief measure.
“I would like to call it a ‘more targeted bill’ but yes, our expectation is we will move forward with that next week,” he said.
“For now the most important thing to make sure at the end of the month we don’t shut down the government and get something past the election.”
“Yes, our economy is starting to recovery but its acceleration will only come from a cooperative Congress and without partisanship in an election year. To recover, we all must work together. The stock market is about to break out to the 30,000+. Export are up in part due to an adjusted downward dollar which is helping reduce our unemployment and in part, our social unrest, caused in part by idle minds and bodies. Energy and other key industries have also turned the corner with the elimination of our dependence on foreign imports.
Yes, the economy is moving forward but needs a further stimulus, without pork-barreling, so that those in need can last through the final round of recovery, with food on the table and shelter, and the advent of a covid-19 vaccine, which all evidence says will be sooner than later due to WH pressure on Big Pharma,“ says economist Bruce WD Barren.
Have a healthy holiday weekend, Keep the Faith!
Latest posts by Paul Ebeling (see all)
- Middle-aged Americans are Living in Pain - September 22, 2020
- Fed and Treasury Bosses Back More Aid for Small Businesses - September 22, 2020
- US Existing Homes Sales Rise 2.4%, Highest Mark Since 2006 - September 22, 2020