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21.10.202009:15 Forex Analysis & Reviews: Americans will flood problems with money again

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Exchange Rates 21.10.2020 analysis

House Speaker Nancy Pelosi said yesterday that the compromise stimulus package bill is almost ready as she waits for an important phone call with Treasury Secretary Stephen Mnuchin.

She also said in an interview with Bloomberg Television that despite the fact that there are issues in which both sides need to compromise, she is still happy with the administration's latest position regarding health.

She even noted that questions about assistance and providing income to working families for the state remain open.

Even if the two sides agreed, Republicans in the Senate could still be an obstacle. As a number of GOP members opposed the $ 1.8 trillion or more stimulus and the House Democrats nominated $ 2.2 trillion. And in turn, Trump said yesterday that he could cover the number even more than the Democrats.

If Mnuchin and Pelosi do come to an agreement, Republicans resisting a large stake will find themselves in a quandary as they have to choose whether to withdraw their support from their president or expose partisan divisions. But there is little time left to reach a compromise by the November 3 elections.

Pelosi said that "it may not be over by Election Day and we need all our laws to be written by the end of this week." She added that she would like to speed up the process of contracts to help people until November 1, since the population of the country must pay rent from the beginning of the month.

Pelosi also noted that she advises her colleagues not to worry about the fact that for Trump this will work as a bonus plus if the agreement is concluded before November 3.

But at this stage, the negotiations between Pelosi and Mnuchin are at an impasse, because the levels of spending on the accounts related to unresolved issues are present on both sides.

It will take days after the Pelosi-Mnuchin agreement for the spending committees to discuss the details, according to the GOP aide.

The chairman of these issues, Richard Shelby, said that his staff does not have the details yet from Mnuchin or Pelosi for them to draft the bill.

Andrey Shevchenko
Analytical expert of InstaForex
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