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Added on the 15/10/2020 18:40:23 - Copyright : Wochit
President Donald Trump has changed his thinking, and now says he wants a big stimulus bill passed before the general election on November 3rd. Fed Chair Jay Powell also wants to see one passed and has warned that without one, the US economy's recovery will surely falter. But the Republican-led Senate hasn't passed a new coronavirus relief bill since April 21st, and shows little signs of doing so before the election. According to Business Insider, the GOP is far more concerned with getting the Supreme Court tilted to the right by having Amy Coney Barrett confirmed. For more than five months, Congress has held up a comprehensive stimulus package for tens of millions of Americans and left them in limbo. Senate Majority Leader Mitch McConnell wants a so-called 'skinny' bill, while House Speaker Nancy Pelosi is holding out for far more for the American worker.
Joseph LaVorgna is the chief economist at the National Economic Council, and is an economic adviser to the Trump administration. And according to Business Insider, LaVorgna on Friday said he felt there was no rush to release a second coronavirus stimulus package. LaVorgna said that despite a disappointing Friday jobs report, he doesn't 'believe the recovery at the moment is in jeopardy.' On Friday, the jobs report that said 10.7 million Americans were unemployed in November. Congress is considering a $908 billion stimulus proposal after months of negotiations. It does not include a $1,200 direct payment.
US stock markets opened with optimism Tuesday, as tens of millions of Americans head to the polls to decide who will be the next US president. According to Markets Insider, analysts say the upward bounce was a reaction to the end of the uncertainty surrounding who will get the top job. Fundstrat's Tom Lee said in a note to clients on Tuesday that the result would rally stocks, regardless of who won. If Democratic nominee Joe Biden wins, Lee expects a 10% rally. A surprise win for President Donald Trump could jolt stocks 15% to 17% higher. Asset manager BlackRock says that from ending political gridlock to producing sorely needed stimulus packages, the outcome could trigger an upturn.
A Morning Consult poll finds that four in five Americans want Biden to prioritize federal aid. The top two concerns of the voters were small business aid and stimulus checks. Respondents also indicated favorability of extending mortgage forbearance policies. They also favored increasing unemployment benefits and raising taxes for the wealthy. Treasury Secretary nominee Janet Yellen affirmed Biden's stance on aid in her confirmation hearing. Biden lists a quick economic recovery from the pandemic at the top of his to-do agenda.
Shah Alam, Jan 18 (EFE/EPA).- The Prime Minister of Malaysia, Muhyiddin Yassin, announced Tuesday an additional stimulus package worth around $3.7 billion to strengthen the economy in the Asian country after it was hard-hit by the coronavirus pandemic.The package is known as ' Malaysian Economic and People Protection Assistance Package' (PERMAI) and its initiatives will be based on three main objections, which are to combat the Covid-19 pandemic, to ensure the welfare of the people, and to support the survival of businesses. Malaysia has so far recorded over 150,000 confirmed cases and 601 deaths of the COVID-19. (Camera: FAZRY ISMAIL).SHOT LIST: MEDICAL PERSONNEL PREPARE FOR A SWAB CORONAVIRUS TESTING AT SHAH ALAM, OUTSIDE KUALA LUMPUR, MALAYSIA.
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