Delay in deal on COVID-19 relief, 2nd stimulus check may force weekend sessions for Congress
By Andrew Taylor
Before the coronavirus erupted in March, weekly jobless claims had typically numbered only about 225,000.
WASHINGTON - It s a hurry up and wait moment on Capitol Hill as congressional negotiators on a must-pass, almost $1 trillion COVID-19 economic relief package struggled through a handful of remaining snags on Thursday. The holdups mean a weekend session now appears virtually certain, along with a stopgap spending bill to avert a partial government shutdown at midnight Friday.
All sides appeared hopeful that the wrangling wouldn t derail the legislation from becoming law. The central elements of a hard-fought compromise appeared in place: more than $300 billion in aid to businesses; a $300-per-week bonus federal jobless benefit and renewal of soon-to-expire state benefits; $600 direct payments to individuals; vaccine distribution funds and money for renters, schools, th
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Dec 17, 2020 00:22 GMTFXStreet News
Having heard that the US Senate Majority Leader Mitch McConnell has left the Capitol Hill, while keeping his optimism for the coronavirus (COVID-19) stimulus, US stimulus waters got to head from US Senate Democratic leader Chuck Schumer.
The minority leader tweets about the democratic fight for the stimulus checks while trying to please the American people.
FX implications
The news couldn’t please market watchers as the talks are already pushed back, as McConnell leaves. Even so, S&P 500 Futures print mild gains following the news amid cautious optimism. However, updates relating to the fresh US-China tussle and uncertainty over Brexit may keep hammering the optimists.Get the 5 most predictable currency pairs
European Shares Set To Open On Steady Note
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may open a tad higher on Thursday as investors look out for further developments in U.S. stimulus talks and keep up to date with the latest developments related to Covid-19. We re still close and we re gonna get there, U.S. Senate Majority Leader Mitch McConnell of Kentucky told reporters Wednesday evening as stimulus talks drag on.
The first Covid-19 vaccinations are underway at U.S. nursing homes, while the European Union is on track to approve its first Covid-19 vaccine ahead of Christmas.