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Original title: Is there a chance for gold prices to rise? Pelosi sets a 48-hour deadline, hoping to pass the epidemic assistance bill before the election.
While the epidemic continues to plague the United States and millions of Americans are unemployed, the two parties in the United States are still at a standstill over a new round of anti-epidemic aid bills. As the November general elections approach, on October 18, local time, the speaker of the United States House of Representatives, Pelosi, gave the last 48 hours of negotiation time, to reach an agreement before elections.
Pelosi sets a 48-hour deadline, hoping to pass the epidemic aid bill before the election.
On the night of October 17 local time, Pelosi and the United States Secretary of the Treasury, Mnuchin, again held telephone negotiations on a new round of the bailout bill. Pelosi’s spokesman Hammill said the conversation between the two lasted about an hour and that there was some “encouraging news” on the subject of detection, “but there is still a lot of work to do to ensure there is a Test Plan in place.” .
The Speaker of the US House of Representatives, Pelosi, said there are still differences with the Trump administration in negotiations on a broader epidemic aid bill.
He said that if the bill is to be passed before the election, Democrats in Congress and the White House must reach an agreement within the next 48 hours.
Pelosi’s office explained to the media that the Trump administration and Democrats must answer those outstanding questions, otherwise the bailout bill will not be reached before the election.
Pelosi said in an October 18 interview that the deadline is related to lawmakers’ ability to reach an agreement before the November 3 election. He also said that there are still disagreements with the Trump administration over the comprehensive epidemic relief bill, including the wording of testing regulations affecting minorities. Although he is optimistic about the negotiations, the final outcome will depend on the White House.
Pelosi noted: “The 48-hour time frame depends on whether we want to achieve a stimulus package before the elections. We really want to achieve this objective before the elections. As we negotiate the stimulus package again, I am optimistic about it.”
The two US parties still have differences on the anti-epidemic bailout bill
Although the epidemic continues to spread across the United States and millions of Americans are still unemployed, negotiations on the economic stimulus package in the United States have been delayed for several months.
Democrats passed a $ 2.2 trillion aid package in the House of Representatives. They ignored the $ 1.8 trillion package recently proposed by the Trump administration and believed that this amount of funding was not enough.
The two sides in the United States also diverge on other important policy issues, including funding from state and local governments, and protecting corporate responsibility during the epidemic.
The White House last week proposed a $ 1.8 trillion economic stimulus plan to help Americans cope with the economic damage caused by the epidemic. Pelosi said the plan was insufficient in many ways, including tax credits for the poor, assistance to state and local governments, worker protection and rental assistance. She insisted on a $ 2.2 trillion economic stimulus and aid package. However, the Republicans who control the Senate are not willing to pass another huge bailout bill.
Even if Pelosi and Mnuchin could reach a bipartisan agreement, many Republicans in the Senate would oppose a package that would cost nearly $ 2 trillion. Senate Majority Leader McConnell announced Oct. 17 that the Senate will vote on a $ 500 billion Republican aid bill on the 20th and 21st. The bill will include federal unemployment benefits and another round. assistance for small businesses under the Payroll Protection Program (PPP). However, Democrats are expected to block the passage of this bill. They hope to seek a broader rescue plan. Pelosi and Mnuchin have been negotiating about this for months.
Since the outbreak of the epidemic, the United States Congress has approved four rounds of economic stimulus programs and allocated nearly $ 3 trillion. However, many benefits, including unemployment insurance, expired in early August.
The US media cited an analysis saying that if the two sides fail to agree on a new round of economic stimulus plan in the near future, the US economy could slide again in the fourth quarter.
Huitong.com recalls,
Many previous analysts believed that due to differences between the two parties, it is unlikely that a new round of the stimulus plan will be launched before the elections. With Pelosi giving a final negotiation time limit of 48 hours, the passage of the new stimulus bill will usher in a critical moment. If the corresponding bill can be reached, the price of gold is expected to rise. If it still cannot be achieved, the price of gold may continue to decline in the short term.
11:24 AM, October 19 Beijing time,
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