As Democrats and the White House struggle to reach an accord for a second round of stimulus, President Trump is threatening executive action if no deal is reached. Yahoo FInance’s Jessica Smith joins The Final Round to discuss.

Video Transcript

SEANA SMITH: Welcome back to "The Final Round." Now, let's get to the latest down in DC. Negotiations stalling here on a new stimulus deal. Last hour, the Democrats wrapping up a meeting with the White House. Senator Chuck Schumer calling the talks, quote, "disappointing." Let's get to Jess Smith. She has the latest down in DC for us. Jess?

JESSICA SMITH: Yeah, Seana. This meeting did not go well at all. As you mentioned, Minority Leader Schumer called it disappointing. He said that the White House didn't want to go much over their initial $1 trillion offer. Speaker Pelosi told them to come back when they're ready to discuss a higher number. So at this point, we don't know when negotiations will pick up again.

Speaker Pelosi reiterated that she wanted to take her top line number, take that down by $1 trillion, if the White House would take their top line number and increase it by 1 trillion, but that is not happening at this point. Schumer really summed up this disagreement earlier today. Take a listen.

CHUCK SCHUMER: This is not just a numerical game. I mean, you're acting like, oh, the-- this is feeding kids, opening schools, employing people, helping people who need help. This is having fair elections. These are very substantive things to us, and we will try to meet them somewhere so we can get something done. But it's not just, oh, they want this, you want that, and-- it's real need.

JESSICA SMITH: Now, Treasury Secretary Steven Mnuchin also spoke to reporters after this meeting. And he said there was really no progress made. He says he'll come back when the Democrats have new proposals to offer. The White House was saying that they heard the same thing that they've been hearing over the past couple of weeks as they've been negotiating. They sounded very frustrated. Both sides there were frustrated as they were talking to reporters.

Mnuchin and Meadows, Mark Meadows, the White House Chief of Staff, did say that they're going to encourage the president to move forward with executive orders on unemployment, on rental protections, and on student loans. So we could expect those executive orders at some point this weekend. It's still really unclear how those EOs would work exactly. And both sides today acknowledged that legislation would be better, but they just cannot come to a deal right now.

And we already know the unemployment benefits, the boosted benefits expired last week. Tomorrow, the Paycheck Protection Program comes to an end. People will not be allowed to get new loans. So we'll really see if anything happens over the weekend, and we'll be watching out for those executive orders. Seana?

SEANA SMITH: Jess, what about the talk of a short-term extension? Is that off the table now?

JESSICA SMITH: Speaker Pelosi says that is off the table. She has been opposed to that idea from the very beginning. She says you can't address one issue, help some Americans, but then leave everyone else stuck without any help. So she does not want to do this short-term deal at all. We'll see if that changes over the course of these negotiations, if they can't make any headway, but it doesn't sound like it right now.

SEANA SMITH: Certainly does not. All right, Jess Smith, thanks so much for bringing us the latest on that.