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Original Caption: The United States Government Intends To Launch A $ 500 Billion Stimulus Package Next Week, But The Democratic Party Still Opposes! Gold Price Is In Trouble And Short-Term Recovery Is difficult
On October 13 (Tuesday), the prospects for the United States to implement fiscal stimulus plans before the election became even bleaker, as House Speaker Pelosi asked the White House to review her latest proposal. , and Senate Republican Leader McConnell planned to promote a smaller scale. Proposal to vote. The Democratic Party opposed this strategy many times, and Pelosi quickly rejected it.
Trump and GOP Diverge, Pelosi Asks White House to Review Stimulus Package
With three weeks to go until Election Day, President Trump attempted to reignite the economic stimulus negotiations, increasing the previously proposed $ 1.6 trillion amount to $ 1.8 trillion. House Speaker Pelosi and Treasury Secretary Steven discussed the Trump administration’s new $ 1.8 trillion proposal last weekend but failed to reach a compromise. According to a person familiar with the negotiations, the two sides plan to continue the negotiations.
Pelosi said in a letter to her colleagues on October 13: “Unfortunately, Trump’s proposal is far from the amount of funding required by the epidemic and the severely recessive economy, and major changes must be made. To compensate for the failures in the Trump proposal. ” Pelosi said Trump’s recommendations on the epidemic stimulus package must make major changes. Trump only hopes that the market will rise before the election.
Although Trump raised aid funds to get closer to the $ 2.2 trillion level proposed by Democrats in the House of Representatives, there are still big differences between the two sides on some policy issues, including how to implement health care and allocate credits prosecutors.
Pelosi hinted in the letter that President Trump is only waiting for his name to be written on a check and mailed before Election Day for the market to go up. “
McConnell previously warned that some Republicans will not support another large-scale economic stimulus plan and may not have enough time to pass any large-scale deals before the election.
According to people familiar with the matter, Treasury Secretary Mnuchin and White House Chief of Staff Meadows briefed some Senate Republicans on the content of the president’s proposal last Saturday, but told them that any final deal from around 2 trillion dollars would be too much. Big. One person said that if no major changes are made, the proposal will hardly be approved by the Republican Party.
White House Press Secretary Kayleigh McEnany added on Twitter that a deal could not be reached and that now Senate Democrats who say they should be concerned about American People’s Relief should call Pelosi directly.
With the resumption of negotiations on the US stimulus package, US stocks rallied for a while but fell overnight due to the latest pessimistic market expectations of recent stimulus measures.
S&P 500
The index closed 0.6% down.
Republicans tried to vote on a $ 500 billion weight loss aid package next week, but Democrats still rejected it.
After Trump raised the funds for the stimulus package, McNerney tried to defuse the unrest within the Democratic Party. Some Democrats tried to encourage her to compromise.
The latest statement from the Republican leader of the United States Senate, McConnell, indicated that he will try to push the stimulus policy again before the elections. The plan to alleviate the epidemic will be presented to Congress next week with an approximate amount of 500 billion. of dollars.
After strong opposition to the $ 1.8 trillion aid package, Republicans tried to pass a scaled-down version of the aid package, but this type of package was rejected by Democrats because they insisted on a one-year-scale aid package. trillion.
Huitong.com recalls,
As the US hopes of passing the US $ 1.8 trillion stimulus plan tended to weaken, the US dollar soared. On October 13, gold fell nearly $ 40 and passed the $ 1,890 mark. It recovered slightly on October 14, but has yet to recover the $ 1,900. . Although Republicans are preparing to make concessions again and try to pass a slimmer stimulus package of only about $ 500 billion next week, they still encounter opposition from the Democratic Party. In this way, the prediction that the stimulus package cannot be launched before the US general election can come true and the short-term rebound in gold prices is more difficult.
2:47 PM, October 14 Beijing Time,
Cash gold
Quoted at $ 1897.60 an ounce.
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