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Added on the 04/12/2020 13:00:00 - Copyright : EFE Inglés
European Central Bank President Christine Lagarde warns that Russia's decision to exit a landmark deal for the export of grain from Ukraine could push food prices higher and add to inflation. The withdrawal constitutes "upside risks to inflation", Lagarde says, after the ECB raised rates for the ninth straight time to fight fast-rising consumer prices. SOUNDBITE
US stocks dipped slightly on Wednesday as investors weighed the latest stimulus talk developments. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to reach a deal before the deadline. According to Business Insider, the two are now working to finalize a proposal before the weekend. Senate Democrats rejected Republicans' $500 billion "skinny bill," leaving both parties stuck in a deadlock. Disagreements over a relief bill are still significant between the Republicans and Democrats. The White House recently offered a $1.9 trillion bill, coming in well below Democrats' $2.2 trillion package.
Despite US President Donald Trump's vocal push for a new COVID-19 stimulus package, it appears unlikely that one will come before Election Day. On Tuesday, Business Insider reports Trump signaled he wanted an ever-larger deal than the $2.2 trillion bill proposed by House Democrats. But according to Business Insider, Senate Republicans are skeptical that anything is going to happen anytime soon. It's getting to be toward the last minute. And the clock keeps ticking away. And I'm not optimistic about us doing anything. Sen. Richard Shelby (R-AL)Chairman, Senate Appropriations Committee Furthermore, Senate Majority Leader Mitch McConnell has pushed for a far slimmer package than Democrats and the president. The GOP has prioritized Supreme Court Justice confirmation hearings for Judge Amy Coney Barrett over economic relief for Americans. But on Tuesday, Trump phoned in to 'Fox and Friends' to say he wants a stimulus program even larger than the Democrats' proposed $2.2 trillion package.
Prime Minister Theresa May calls on the European Union for "one more push" to strike a Brexit compromise deal. SOUNDBITE of British Prime Minister Theresa May
U.S. President Barack Obama says he will do whatever he can to advance a controversial trade deal with the European Union in his last nine months in office. But, as Ivor Bennett reports, there's a growing swell of populist concerns about the impact on jobs, consumer protections and the environment.
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