Markets fell lower following President Trump’s and Joe Biden’s electoral debate on Tuesday night. They then proceeded to rally sharply Wednesday morning after Treasury Secretary Steven Mnuchin said he will talk to House Speaker Nancy Pelosi about another round of stimulus on Wednesday.
The Treasury Secretary stated that he aims to find an “understanding” with Pelosi on a new relief package by Thursday of this week.
The question of what to include in a fifth coronavirus relief package is one that the Trump administration and Democratic leaders have failed to agree on. There were serious doubts about Congress’ ability to pass new aid before the Nov. 3 election. Now that Mnuchin and Pelosi have renewed talks on the matter, investors are optimistic that both parties will reach an agreement.
Mnuchin has expressed that both sides have found a consensus on several major issues. These include funding for schools, airline aid, direct payments to individuals, small business loans and employee retention tax credits.
The outbreak continues to affect American households. It is very possible that another round of aid will be crucial in the upkeep of living and business standards for many Americans and American companies. Do you think it is the government’s responsibility to intervene in this way or have they taken things too far?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.