- Speaker of the House of Representatives Nancy Pelosi (Nancy Pelosi) said in an interview with MSNBC that the recent stock market crash may prompt Trump to implement a large-scale economic assistance program.
- Her remarks came as the Dow Jones Industrial Average fell 943 points on Wednesday, its worst day since June.
- The number of virus cases across the country is increasing, and economic assistance negotiations have been basically postponed before the election.
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Speaker of the House of Representatives Nancy Pelosi (Nancy Pelosi) said on Wednesday that given his long-standing emphasis, the recent stock market decline may prompt President Donald Trump to seek a large-scale economic rescue package.
“The President is very concerned about the stock market. He has seen the market react to the spread of the virus. He has seen the market react to the fact that we have not reached an agreement to inject resources into the economy. I hope he can now take a serious Way to the desktop, eliminate the virus.”
Her comment came about because the stock market has been falling in recent days. The Jones Industrial Average fell 650 points every week, and it also fell on Tuesday. It then fell by 943 points on Wednesday, its worst day since June.
The surge in virus cases across the country coincides with the increase in hospitalizations in most states. At the same time, economic relief negotiations between the White House and the Democratic Party have been basically postponed before the election day next week.
Many economists have called for increased federal spending to support the economy because the economy is showing signs of weakness.
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The stimulating dialogue between Pelosi and Treasury Secretary Steven Mnuchin has been slow, with few signs of progress. The two are discussing a package of approximately $2 trillion, which includes $1,200 in stimulus checks, federal unemployment benefits and small business assistance.
Trump firmly supports the adoption of another stimulus plan. He told rally people in Pennsylvania on Tuesday: “After the election, we will get the best stimulus package you have ever seen.”
But in the past month, his method was very unpredictable. Trump has moved from halting relief negotiations to fighting for more money than the Democrats in a short period of time.
After the election, whether Congress will pass another rescue plan at the “lam duck” meeting is also highly uncertain. Since the pandemic triggered emergency spending of $3 trillion in the spring, it has not approved further aid.