Trump’s evening tweets came hours after all three major stock indices fell over the ongoing stimulus deadlock.
United States President Donald Trump has voiced skepticism that an agreement could be reached with Democratic leaders on a new round of aid to coronavirus aid, which seems to undermine hopes for a stimulus plan, even if talks continue between Democratic House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin.
“Just don’t see how Nancy Pelosi and Cryin ‘Chuck Schumer will be ready to do what’s right for our great American workers or our wonderful US itself,” Trump wrote on Twitter on Wednesday evening. “Their main focus is on clearing out poorly governed (and criminal) democratic cities and states. Should take care of our people. It wasn’t their fault that the plague came from China! “
The tweets came after all three financial indices tumbled in dwindling hopes of a stimulus plan on Wednesday before Americans went to the polls on Election Day, November 3rd.
Pelosi has proposed $ 2.2 trillion to help businesses and families in trouble, while the White House tabled a $ 1.8 trillion proposal that Trump has since said he was ready to go beyond. But Pelosi and Mnuchin are reportedly nearing a deal, with the couple scheduled to speak again Thursday, Pelosi’s spokesman said in a tweet.
Experts have warned that the US needs another round of financial relief for businesses and families to recover from the economic downturn from the pandemic. The final round of aid ended in late July, including additional weekly unemployment benefit of $ 600 per week to support workers on top of state aid.
Earlier this month, Federal Reserve Chairman Jerome Powell warned that the country’s entire economic recovery is in danger of derailing if the government does not take the lead.
“Too little support would lead to a poor recovery and create unnecessary trouble for households and businesses,” Powell said during an October 7 event with economists and strategists.
Trump has used Twitter frequently to weigh up the ongoing economic talks. On the same day that Powell spoke, Trump tweeted that he had told his officials to suspend stimulus negotiations with Democrats until after the election – before turning around hours later and urging Democratic lawmakers to put targeted financial lines for businesses and households to provide.
Last week he tweeted: “STIMULUS! “Go Big or Go Home !!!” just as the Senate Republicans expressed their support for a reduced aid package.
On Wednesday, Trump’s chief of staff, Mark Meadows, told Fox Business that “the president will be ready to go” if Republican senators reach an agreement.
Talks will continue as the time frame for a vote before election day is shortened. Investors around the world are watching closely what emerges from Pelosi and Mnuchin’s discussions on Thursday.