Republicans and Democrats in the United States Congress are nearing an agreement with the Trump White House on a COVID-19 relief package to aid Americans still struggling through the pandemic.
The bill, valued at $900bn, is expected to provide for one-time payments of about $600 to individuals, subsidies to small businesses, $300-a-week jobless benefits and funding for vaccine distribution.
“The finish line is in sight,” Chuck Schumer, the top Senate Democrat said as details of the legislation were being hammered out.
“Everyone wants to get this done. Let’s push through the few final metres and deliver the outcome that the American people very much need,” Schumer said in remarks to the Senate.
Second Stimulus Update: Size of Direct Check Worries McConnell
KEY POINTS
A big sticking point is the amount of a direct check
Senate Majority Leader Mitch McConnell predicts lawmakers will strike a coronavirus stimulus deal before they leave Washington for the holidays, but expects a tough time getting them to agree on the size of any direct check to taxpayers.
On the table right now is a $900 billion package that includes a $600 direct check and another $300 in supplemental unemployment benefits. The $2.2 trillion CARES Act passed in March but now expired included a $1,200 check and $600 in supplemental jobless insurance.
U.S. Dollar Falls On Stimulus Hopes, Fed Policy Statement
CANBERA (dpa-AFX) - The U.S. dollar depreciated against its major counterparts in the Asian session on Thursday, as the Fed committed to keep its benchmark interest rate near zero and on improved risk sentiment amid hopes of fiscal stimulus in the United States.
The Fed kept the short-term interest rates unchanged at the range of 0.0 percent and 0.25 percent and said that it will continue its asset purchase program until the economy shows substantial progressed towards the central bank s goals of maximum employment and price stability.
Congressional leaders edged closer towards a $900 billion aid package, which includes stimulus checks, funding for small businesses and extended unemployment benefits.
The state senator who represents Albemarle counties in the N.C. General Assembly said Wednesday he continues to believe the presidential election was hacked â probably by foreign agents â and he defended controversial statements about suspending civil liberties that he referenced on his Facebook page.
Raleigh-based television station WRAL and its website WRAL.com reported on statements that Sen. Bob Steinburg, R-Chowan, made on his Facebook page noting that retired Gen. Thomas McInerney had suggested President Donald Trump take actions such as invoking the Insurrection Act and suspending habeas corpus.
Steinburg told The Daily Advance Wednesday that he would not support such actions unless there was evidence that the election had been hacked by foreign actors.
Dec 17, 2020 00:38 GMTFXStreet News
AUD/USD drops after failing to refresh intraday top of 0.7580.
Fed strikes dovish tone, Powell stays ready to ease further but nothing for now.
US policymakers seem taking one more day for the much-awaited aid package, US-China tussle back in focus.
Post-Fed run-up fizzles as bulls turn cautious ahead of the key data, events.
AUD/USD drops to 0.7570 while trimming the post-Fed gains during the early Thursday morning in Asia. The pair recently eased amid concerns over the US coronavirus (COVID-19) stimulus and the Washington-Beijing tussle. On late Wednesday, Fed’s dovish outlook and readiness for the Quantitative Easing (QE) helped the quote to flash a two-day uptrend.