empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

02.07.202010:30 Forex Analysis & Reviews: Trump supports another stimulus package

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 02.07.2020 analysis

On Wednesday, US President Donald Trump announced his support for another bill to stimulate the US economy, but expressed his want to include incentives for Americans to return to work, which created conflict with Democrats in Congress over unemployment benefits.

"We want to create a very good incentive to work so we are working on it, and I'm sure that we will all come together," Trump said.

This indicates that the Trump administration will oppose the Democrats' attempts to renew their $ 600 weekly unemployment allowance, which was provided earlier to help amid the coronavirus.

Many Republicans argue that the supplementary allowance encourages workers to remain unemployed, so they would prefer to provide benefits for workers returning to work.

Trump said that the current financial aid structure has created an obstacle to getting back to work.

"It was an incentive not to go to work. You would have made more money if you hadn't gone to work," Trump said in an interview. "People didn't want that. They wanted to go to work but it wouldn't make sense because they earned benefits."

Administration officials said that they would calibrate their response in terms of further incentives based on the economic data to be provided over the next few weeks.

Negotiations on the said bill are not expected to resume until the Congress returns after the July 4th Independence Day holiday.

Andrey Shevchenko
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off