November 25, 2020

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Ignoring the Fed Chairman’s emergency warning, Trump ordered the termination of stimulus negotiations until the end of the election

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Trump, Funny Blog News

Trump said on social media on Tuesday: “I have instructed my representatives to stop negotiations until the end of the general election. Once I win, we will immediately pass a large-scale stimulus bill that focuses on helping hardworking Americans and Small business.”

Trump, Funny Blog News

Tencent Securities, October 7, just a few hours after Fed Chairman Powell issued the strongest call for increased fiscal stimulus, Trump told his negotiators to stop talks with the Democratic Party on the stimulus package.

Trump said on social media on Tuesday: “I have instructed my representatives to stop negotiations until the end of the general election. Once I win, we will immediately pass a large-scale stimulus bill that focuses on helping hardworking Americans and Small business.”

After Trump released the news, the US stock market plummeted, and the three major indexes fell more than 1%. Congress has been in difficult months of negotiations on the stimulus package. The Democratic Party recently launched a $2.2 trillion package that failed to win Republican support. The White House’s stimulus package was only $1.6 trillion in size.

Powell said at an online event hosted by the National Association of Business and Economics (NABE): “Excessive rescue power will lead to weak economic recovery and cause unnecessary difficulties for families and businesses. At present, too much policy support has caused the economy. The risks are less than the risks to the economy of too little support. Even if policy actions are ultimately proved to exceed the level of actual demand, it is not a waste of effort.”

Pelosi: Trump ignores Fed Chairman Powell’s warning, the White House is in complete confusion

After Trump stopped negotiations with the Democratic Party on the stimulus bill, the Speaker of the U.S. House of Representatives Nancy Pelosi said: “Abandoning negotiations shows that Trump has no will to defeat the virus.”

Pelosi said in a statement: “Obviously, the White House is completely chaotic.”

“Unfortunately, they ignored the Fed Chairman Powell’s urgent warning today that’too little financial support will lead to weak recovery and cause unnecessary difficulties for families and businesses'”.

Pelosi urged the Republican Party to support a larger stimulus package on Tuesday

Pelosi used Powell’s speech earlier on Tuesday to urge the Republicans to support a larger stimulus package. She and Treasury Secretary Mnuchin had expected to hold another meeting on the stimulus package on Tuesday afternoon.

Pelosi said in a conference call with Democrats that the hormone drugs used in the treatment of the new crown may have an impact on Trump’s thinking ability.

Trump, who was discharged from the hospital yesterday, had a conference call with Senator Majority Leader McConnell, House Republican Leader Kevin McCarthy, and Mnuchin before posting the above tweet.

According to a House official, Pelosi earlier told fellow Democrats that she and Mnuchin had disagreements over assistance to state and local governments, epidemic prevention expenditures, and subsidies for ordinary Americans.

Trump said in a tweet on Tuesday, “Nancy Pelosi proposes to allocate 2.4 trillion US dollars to help the Democratic states with mismanagement and rampant crime. This money has nothing to do with the fight against the epidemic. We gave a very generous 1.6 A trillion-dollar plan, and she has no sincerity in negotiations as usual.”

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