— MM spoke with a couple of senior administration officials who both said they see little chance a fiscal stimulus deal comes anytime soon. There are not likely to be any serious talks this week, partly because White House chief of staff Mark Meadows is out for the week but mostly because the administration feels confident they have the upper hand politically following President Donald Trump’s executive actions .
In fact, we are told it could be weeks before any serious talks resume barring any significant events like Wall Street sell-offs or a run of truly dismal economic data. At the moment there is little in the way of a forcing mechanism to get the parties back together to come up with a compromise deal. Wall Street thinks a deal is coming so is simply blowing it off. But that view could be quite wrong.
There is also no prospect of more direct aid to households. MUFG’s Chris Rupkey: “We are increasingly concerned that this best-they-can do stimulus from the White House will never make it fully to the execution stage and the economy will be left to sink or swim on its own.”— Here’s what NEC Director Larry Kudlow told MM about Trump’s actions: “Besides adding some much needed assistance, I think this moves the ball toward recovery.
Kudlow added that the payroll tax deferral will be “a wage hike for the heroes who are working through this hole pandemic. And if after tax wages go up, that’s an incentive to go back to work. And politically it may well move us toward negotiations.” Trump mentioned the possibility of a capital gains and middle class tax cut this year. But that ain’t happening.
Wall Street is the harbinger of this countries demise! Feds 4get whose $$ they r arguing about. Another ploy by trump admin to willfully damage the USA on his way out the door.
This was the plan all along, don’t let anyone kid you. The only people paying taxes are the only ones to get screwed. Great, my azz.
It's going to sink this year and drop off a cliff next year.
How much has the fed spent propping up the stock market in the last 3.5 years?
if only u were a multi national corporation then my elected officials might care about me
You mean like normal? Good. Reopen the damn economy and let people operate their businesses again.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump's $400 weekly boost to unemployment insurance won't increase benefits for jobless Americans anytime soonThe Trump administration&39;s executive action on unemployment is attempting to set up a "lost wages" program outside the traditional benefit system. Asking for help the last couple weeks my sister & I have been struggling to get by I lost my jobs as a janitor and filed for unemployment im waitin to get the benefits but until then were asking if anyone is willing to donate $1 It would help a ton Venmo or Cashapp MattMartins147 Why? Because the democrats will sue him in court to stop him from helping us? How is it that Trump gets away with DEFUNIDING SOCIAL SECURITY AND MEDICARE? Seniors are stressed out about covid 19 and now have to worry about this? The republicans that are not standing up for seniors need to get ready to pack their bags and get new jobs!
Source: YahooNews - 🏆 380. / 59 Read more »
Mnuchin Says White House Won’t Accept Unreasonable Coronavirus Stimulus DealTreasury Secretary Steven Mnuchin accused congressional Democrats of making unreasonable demands in negotiations for the next round of coronavirus relief and suggested the White House is in little hurry to reach a deal. Yet billions for a FBI building and more wasteful military spending was needed from the repubs? Pot, meet kettle. 🤦♂️🤦♂️🤦♂️🤦♂️🤦♂️🤦♂️🤦♂️ stevenmnuchin1, you are wrong.
Source: WSJ - 🏆 98. / 63 Read more »
Trump’s bet on a pre-election rebound meets a new testLawmakers have left town and Trump aides don’t expect new stimulus talks anytime soon. That leaves the U.S. economy without much of the government aid that had been propping it up. There has been little external pressure to force a deal, partly because the stock market has continued its sharp recovery, despite the lack of action of further stimulus realDonaldTrump The people continue to suffer. Why are they banding together to ruin families
Source: politico - 🏆 381. / 59 Read more »
Dollar holds its ground as investors await U.S. stimulus talksThe dollar held overnight gains on Tuesday following seven weeks of an almost relentless fall as investors clung to hopes of a bipartisan stimulus deal in Washington and U.S. bond yields rebounded from multi-month lows. The only stimulus will be the total break down of Printed Money . The FEDERAL Banks and RESERVE BANKS ARE EMPTYH AND FOLDING. wake up! Lies
Source: Reuters - 🏆 2. / 97 Read more »
Oil edges higher on hopes for U.S. stimulus, demand recoveryCrude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen. i don’t think this is what they meant by “edging” So much winning!
Source: Reuters - 🏆 2. / 97 Read more »
Treasury yields rise cautiously as stimulus hopes, U.S.-China tensions persistU.S. government debt prices were lower Tuesday morning as investors hoped for a resumption of bipartisan talks over a new coronavirus relief bill, while tensions between the U.S. and China remained on the radar. Nancy Mussolini will not fuck up the country with her liberal wishlist of bullshit non covid19 funding! KAG2020
Source: CNBC - 🏆 12. / 72 Read more »