Pelosi, Kudlow Signal Market-Moving US Stimulus May Wait Till After Election: Report
U.S. administration officials and House Speaker Nancy Pelosi broached the possibility of passing the pandemic-relief package after the Nov. 3 election, indicating that a deal might not be able to be reached before then, the Wall Street Journal reported.
- With a strong correlation between stocks and the price of bitcoin (BTC) in recent months, analysts say a stimulus package could boost BTC as well. The godfather cryptocurrency surged to 2020 highs on Wednesday on confirmation of fintech giant PayPal adding the coin to its services.
- White House economic adviser Larry Kudlow said on CNBC negotiators were running out of time to get a deal passed before the election as talks went on past a Tuesday evening deadline set by Pelosi.
- The White House has proposed a $1.8 trillion stimulus package while the House Democrats are holding out for $2.2 trillion.
- Should President Donald Trump lose the presidential election, the WSJ article noted, the chances for a quick passage post-election would be slim as the Democrats would likely want to wait until Joe Biden takes office to get a bigger package approved.
