Pelosi, Kudlow Signal Market-Moving US Stimulus May Wait Till After Election: Report
U.S. administration officials and House Speaker Nancy Pelosi broached the possibility of passing the pandemic relief package after the Nov. 3 election, indicating a deal might not be reached before then, the Wall Street Journal reported.
With a strong correlation between stocks and the price of bitcoin (BTC) in recent months, analysts say a stimulus package could boost BTC as well. The godfather cryptocurrency surged to 2020 highs on Wednesday on confirmation of fintech giant PayPal adding the coin to its services.
White House economic adviser Larry Kudlow said on CNBC negotiators were running out of time to get a deal passed before the presidential election. The talks went on past a Tuesday evening deadline set by Pelosi.
The White House has proposed a $1.8 trillion stimulus package while the Democrat-majority House of Representatives are holding out for $2.2 trillion.
Should President Donald Trump lose the presidential election, the WSJ article noted, the chances for a quick passage post-election would be slim as the Democrats would likely want to wait until Joe Biden takes office to get a bigger package approved.
Read more: US House Speaker ‘Optimistic’ About Reaching a Stimulus Pact: Reports
Related Stories
Pelosi, Kudlow Signal Market-Moving US Stimulus May Wait Till After Election: Report
Pelosi, Kudlow Signal Market-Moving US Stimulus May Wait Till After Election: Report
Pelosi, Kudlow Signal Market-Moving US Stimulus May Wait Till After Election: Report
Pelosi, Kudlow Signal Market-Moving US Stimulus May Wait Till After Election: Report