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Treasury Secretary Mnuchin Expects to Resume Talks With Speaker Pelosi on New Aid/Relief/Stimulus Package

#aid #relief #stimulus

Treasury Secretary Steven Mnuchin plans to resume talks with House Speaker Nancy Pelosi to work on a compromise for a new round of stimulus for the US economy very soon,

Word of possible new negotiations came as Secretary Mnuchin told a Senate Banking Committee hearing Thursday that a targeted virus relief package is “still needed.”

If the Democrats are willing to sit down, I am willing to sit down anytime for bipartisan legislation, let’s pass something quickly,” he said.

Speaker Pelosi, at a news conference, expressed hope that there would be another round of talks, but gave no indication that Democrats would bend on their stance that the country needs $2.2-T in more aid.

President Trump has indicated he could back up to $1.5-T, though that is more than many Senate Republicans support.

“We will be, hopefully soon, going to the table with them,” she said.

Fed Chairman Powell reiterated his conclusion that “it’s likely that additional fiscal support will be needed,” speaking at the same Senate panel where Secretary Mnuchin was testifying.

Both the House and Senate are scheduled to be in session next wk. Leaders in both parties have said lawmakers could be called back to Washington at any time to vote on a aid/relief/stimulus deal.

House Majority Leader Steny Hoyer, speaking on the floor Thursday, said that action is needed on a stimulus bill and that the next wk will be Key in trying to get an agreement.

I am very hopeful that we will have either an agreement or a bill that we can pass,” he said.

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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