US stimulus talks slow but continue, prospects dimming

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[WASHINGTON] US policymakers held another round of talks on Monday on a new spending package to aid the virus-hit economy, but the negotiations have lost momentum, dimming hopes that an agreement can be reached before the November 3 election. Read more at The Business Times.

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The sides have narrowed their differences on the size of a package to around US$2 trillion, but remain at odds over the exact cost and what it includes, with Republicans pressing for more limited measures and Democrats insisting on aid for state and local governments.

Ms Pelosi said Sunday the health language is"central" to a deal and indicated Democrats are willing to adjust the wording of the legislation to accommodate compromises with the administration.Prior to Monday's negotiating session, White House economic adviser Larry Kudlow said the talks had"slowed down, but they're not ending.

Mr Kudlow continued to tout a solid economic recovery from the damage inflicted by the coronavirus pandemic and widespread business shutdowns, which he said will be"self-sustaining" even without a new stimulus package.

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