Coronavirus Covid-19: Trump Halts Pandemic Aid Talks Until After Elections

US President Donald Trump said today that he has instructed his aides to stop negotiating in another round of Covid-19 relief until after the election.

Trump tweeted that House Speaker Nancy Pelosi “was not negotiating in good faith” and said he asked Senate Majority Leader Mitch McConnell to direct his entire approach before the election to confirm to his candidate for the Supreme Court of the United States, Amy Coney Barrett.

“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill that focuses on working Americans and small businesses,” Trump tweeted.

Last week, the White House said it was backing a pandemic unemployment benefit of $ 400 per week and raised the possibility of a $ 1.6 trillion Covid-19 aid bill. But that offer was rejected by Pelosi.

Trump broke off talks after Federal Reserve Chairman Jerome Powell warned today that the economic recovery remains fragile seven months after the coronavirus pandemic without further economic stimulus.

Stocks fell suddenly on Wall Street after Trump ordered the negotiations to halt.

The Dow Jones Industrial Average instantly went from a gain of approximately 200 points to a loss of approximately 300 points.

Powell, speaking to the National Association for Business Economics, made clear that too little support “would lead to a weak recovery, creating unnecessary hardship for households and businesses.”

– AP