Stimulus Check Update 10-21-20: Stimulus Package Negotiations Not Dead Yet! White House Democrats

Here’s your daily stimulus check, your second stimulus check, your executive action, order, memorandums, moratoriums and stimulus package update for Wednesday, October 21st, 2020 (10-21-20).

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Federal Reserve Governor Lael Brainard spoke before Congress today, to the Society of Professional Economists, requesting more stimulus funds for millions of struggling Americans.

She explained: “The recovery remains highly uncertain and highly uneven — with certain sectors and groups experiencing substantial hardship. “

Brainard added: “Continued targeted support to replace lost incomes will be an important factor in determining the strength of the recovery.”

She also explained that some industries are still experiencing significant hardships, stating: “Airline passenger traffic is still 60 percent below its pre-pandemic level, contributing to the decline in aircraft orders this year, and hotel revenue per available room is only half the level of a year earlier.”

“Further targeted fiscal support will be needed alongside accommodative monetary policy to turn this K-shaped recovery into a broad-based and inclusive recovery.”

I completely agree and am hopeful that the growing chorus of economists and financial experts supporting another stimulus package can get Congress to act quickly.

Meanwhile, White House Chief of Staff Larry Kudlow made some encouraging comments earlier today regarding ongoing negotiations on a Phase 4 disaster relief bill.

Speaking on CNBC, Kudlow explained that talks are going well between the White House and the Democrats, stating: “I think there’s a relatively sunny, optimistic morning in terms of the negotiations.”

He continued: “Things are moving in a favorable direction. I can’t promise anything, but things are getting better, looking better for this.”

These words are certainly encouraging, and I hope that Kudlow is accurately describing the negotiations, as we need for both sides to get on the same page regarding another stimulus package ASAP.

Finally, much like Kudlow, House Speaker Nancy Pelosi is “optimistic” about agreeing with the White House on the terms of a Phase 4 diusaster relief bill before the week is through.

Speaking with Bloomberg after their hour-long meeting yesterday, Pelosi described the discussions as productive, and: "provided more clarity and common ground as we move closer to an agreement."

Pelosi was asked if a deal could be reached this week on a new stimulus bill, to which she responded: "That's the plan. That's what I would hope."

She explained her thoughts that negotiations are far from over, stating: "I'm optimistic because I do think we have a shared value ... we want to crush the virus."

Source: https://www.cnbc.com/2020/10/21/feds-brainard-calls-for-more-stimulus-from-congress-amid-highly-uneven-recovery.html

https://uk.reuters.com/article/uk-health-coronavirus-usa-congress-kudlo/white-houses-kudlow-says-it-is-a-sunny-optimistic-morning-in-coronavirus-negotiations-cnbc-idUKKBN27625F

https://www.businessinsider.com/pelosi-stimulus-covid-mnuchin-white-house-senate-republicans-mcconnell-2020-10

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Видео Stimulus Check Update 10-21-20: Stimulus Package Negotiations Not Dead Yet! White House Democrats канала Andrew Cartwright