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Stock prices fell on Wall Street after news broke that Donald Trump halted negotiations with Democrats on a new crisis package.
On Tuesday night, Trump posted a series of Twitter messages in which he writes that he has given instructions to halt negotiations until after the November 3 election.
Trump accuses Democrats of demanding billions of dollars in appropriations that have nothing to do with the coronavirus for “poorly governed and crime-ridden democratically governed states.”
“The economy is doing very well,” Trump wrote.
Trump writes that he has asked Senate Leader Mitch McConnell to focus on getting Amy Coney Barrett approved as the new Supreme Court Justice.
– Turn your back on the Americans
Since June, Republicans and Democrats in Congress have been trying to implement a new crisis package to strengthen the economy.
There has been progress in the negotiations, but Trump’s Twitter messages on Tuesday appear to have dimmed prospects for a deal before the election.
Democratic presidential candidate Joe Biden is getting closer to Trump’s decision.
– Trump turns his back on all workers whose work has not returned. He turns his back on families struggling to pay rent, put food on the table and babysit, says Biden.
Nancy Pelosi has been in talks with Finance Minister Steven Mnuchin about a new crisis package.
Photo: Erin Scott / Reuters
The Democratic leader in the House of Representatives, Nancy Pelosi, is also reacting strongly.
“Today, President Trump has once again shown his true self: He has put himself first at the expense of the country, with the full participation of Republican congressmen,” Pelosi said.
Democrats have demanded a new $ 3 billion crisis package. When Republicans refused to participate, they lowered the requirement to $ 2.2 billion. Republicans initially wanted to allocate just 600 billion, but gradually increased to 1.6 billion, writes NTB.
Challenging recommendations
Just hours before Trump’s order, central bank director Jerome Powell reiterated that more money is needed to accelerate the economy again.
Tens of millions of Americans are unemployed due to the pandemic, which caused a historically sharp decline in the second quarter.
The decision comes as the corona infection continues to spread through Trump’s inner circle in the White House.
