As Time Runs Short, Optimism Fades for a Pre-Election Stimulus Deal

Speaker Nancy Pelosi said she was still optimistic about the chances for an agreement, but it would be up to President Trump when it came together. And time is all but up to cement a compromise before Nov. 3.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #mnuchin-steven-t, #pelosi-nancy, #presidential-election-of-2020, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Trump Casts Doubt on Stimulus Deal as Republicans Resist a Possible Compromise

Even as Nancy Pelosi and Steven Mnuchin continued to narrow their differences, the president said Democrats were holding out for too much, suggesting he was preparing to blame them for the demise of a deal.

#mcconnell-mitch, #meadows-mark-r-1959, #mnuchin-steven-t, #pelosi-nancy, #presidential-election-of-2020, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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The Fed’s $4 Trillion Lifeline Never Materialized. Here’s Why.

The Federal Reserve was meant to take $454 billion and drastically expand it. So far, it has lent $20 billion.

#banking-and-financial-institutions, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-aid-us, #federal-budget-us, #federal-reserve-system, #house-of-representatives, #interest-rates, #local-government, #mnuchin-steven-t, #regulation-and-deregulation-of-industry, #senate, #stocks-and-bonds, #treasury-department, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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McConnell Moves to Head Off Stimulus Deal as Pelosi Reports Progress

The top Senate Republican told colleagues that he had advised the White House against striking a pre-election deal with Democrats to deliver pandemic aid, fearing political repercussions.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Stimulus Deal: Pelosi Reports Progress as McConnell is Against Proposal

The top Senate Republican told colleagues that he had advised the White House against striking a pre-election deal with Democrats to deliver pandemic aid, fearing political repercussions.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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U.A.E. and Israel Agree to Visa Waivers and Direct Flights

In the first official U.A.E. visit to Israel since the countries normalized relations, they agreed to ease travel and upgrade West Bank checkpoints. Palestinians called it tacit assent to Israeli occupation.

#israel, #mnuchin-steven-t, #netanyahu-benjamin, #palestinians, #pipelines, #united-arab-emirates, #united-states-international-relations, #west-bank

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White House Opposes Expanded Coronavirus Testing, Complicating Stimulus Talks

Some administration officials say testing Americans with no symptoms of the coronavirus would hurt the economy and restrict civil liberties. Democrats and some prominent experts say it would slow the virus and bolster economic growth.

#atlas-scott-w, #birx-deborah-l, #centers-for-disease-control-and-prevention, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #mnuchin-steven-t, #redfield-robert-r, #republican-party, #stimulus-economic, #tests-medical, #trump-donald-j, #united-states-economy, #white-house-coronavirus-outbreak-2020

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U.S. Budget Deficit Hit $3.1 Trillion Amid Virus Spending Surge

A surge in spending, combined with falling tax receipts have sent the deficit soaring, complicating plans for additional stimulus.

#federal-budget-us, #federal-taxes-us, #finances, #mnuchin-steven-t, #stimulus-economic, #unemployment, #united-states-economy, #us-dollar-currency

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Republicans Clash on Stimulus Package as Trump Says ‘Go Big’

The president said he wanted a much larger package than the $1.8 trillion measure under discussion. The top Senate Republican said his party could not accept a deal anywhere near that big.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #house-of-representatives, #law-and-legislation, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Senate Republicans Denounce White House’s Offer for Coronavirus Relief

Even as Democrats held out for more concessions over funding and provisions, it was the deep divisions among Republicans that were standing in the way.

#meadows-mark-r-1959, #mnuchin-steven-t, #pelosi-nancy, #treasury-department, #trump-donald-j

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Trump Raises Stimulus Offer to $1.8 Trillion

After ending stimulus talks via Twitter on Tuesday, the president reversed course, proposing a plan his own party may reject, and giving Democrats fresh leverage to dictate the terms of a deal.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #mnuchin-steven-t, #pelosi-nancy, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Dead, Alive, on Life Support? Confusion Reigns on Stimulus as Talks Continue

Mixed messages from the president and his advisers have muddled an already tumultuous negotiation.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #law-and-legislation, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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With Bipartisan Deal Elusive, Democrats Push Through Their Own Stimulus Bill

Lawmakers approved the measure along party lines, even as Speaker Nancy Pelosi said a late-stage agreement with the administration was still possible.

#airlines-and-airplanes, #coronavirus-2019-ncov, #house-of-representatives, #law-and-legislation, #mnuchin-steven-t, #pelosi-nancy, #stimulus-economic, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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How to Fix the Postal Service

Even as it becomes a focus of debate in a sharply partisan election year, the agency is crippled by economic forces outside its control. But a number of proposals, new and old, could chart a path forward.

#gillibrand-kirsten-e, #kosar-kevin-r, #mnuchin-steven-t, #postal-service-us, #postal-service-and-post-offices, #presidential-election-of-2020, #speier-jackie, #warren-elizabeth

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Senate Clears Stopgap Spending Bill to Avoid a Shutdown, Sending It to Trump

The measure provides funding for the government until Dec. 11, delaying the threat of a shutdown until after the general election.

#federal-budget-us, #house-of-representatives, #mnuchin-steven-t, #pelosi-nancy, #presidential-election-of-2020, #senate, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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Steven Mnuchin’s Deal Staved Off Catastrophe. Can He Make Another One?

Even many Trump critics credit his Treasury secretary with rescuing the economy from the pandemic. Will the White House and Congress keep him from doing it again?

#appointments-and-executive-changes, #coronavirus-aid-relief-and-economic-security-act-2020, #mnuchin-steven-t, #powell-jerome-h, #united-states-economy

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House Unveils New Stimulus Package as Pelosi and Mnuchin Resume Talks

The moves appeared to be the most concrete action toward more economic aid since negotiations stalled nearly two months ago, but the sides remain far apart on price and short on time.

#coronavirus-2019-ncov, #democratic-party, #house-of-representatives, #law-and-legislation, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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House Approves Short-Term Bill to Avoid a Shutdown

The measure would stave off a government shutdown, providing funding until Dec. 11.

#coronavirus-2019-ncov, #federal-budget-us, #house-of-representatives, #mnuchin-steven-t, #shutdowns-institutional, #united-states-politics-and-government

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Struggling Hotel Owners, Some With Trump Ties, Seek Federal Bailout

Hotel owners, who spent years loading up on a cheap type of debt, are now faced with the potential for default as the pandemic saps revenues.

#banking-and-financial-institutions, #barrack-thomas-j-jr, #bennett-monty-j, #coronavirus-aid-relief-and-economic-security-act-2020, #mnuchin-steven-t, #stimulus-economic, #treasury-department, #trump-donald-j

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Hopes Dim for More Stimulus as Democrats Block Narrow G.O.P. Plan

A show vote in the Senate reflected a continuing partisan divide that appears increasingly likely to scuttle any recovery package to address the toll of the pandemic before the November election.

#democratic-party, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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Hopes Dim for Second Stimulus as Democrats Block Narrow GOP Plan

A show vote in the Senate reflected a continuing partisan divide that appears increasingly likely to scuttle any recovery package to address the toll of the pandemic before the November election.

#democratic-party, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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Mnuchin Says Economy Is Recovering but ‘More Work’ Is Needed to Alleviate Pain

The Treasury secretary’s House testimony, combined with renewed stimulus discussions among Republicans, highlighted divisions over how big an economic package should be.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #house-of-representatives, #mnuchin-steven-t, #recession-and-depression, #senate, #small-business, #stimulus-economic, #treasury-department, #unemployment, #united-states-economy, #united-states-politics-and-government

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Steven Mnuchin Tried to Save the Economy. Not Even His Family Is Happy.

The coronavirus was an opportunity for the Treasury secretary to redefine his legacy, for better or worse.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #cramer-james-j, #dimon-james, #gingrich-newt, #milken-michael-r, #mnuchin-steven-t, #pelosi-nancy, #treasury-department, #trump-donald-j, #united-states-economy

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How TikTok’s Talks With Microsoft Turned Into a Soap Opera

Neither side wanted a big deal. But what began as talks about a small investment ballooned with interventions from President Trump.

#china, #cloud-computing, #committee-on-foreign-investment-in-the-united-states-cfius, #computers-and-the-internet, #executive-orders-and-memorandums, #foreign-investments, #general-atlantic-llc, #mergers-acquisitions-and-divestitures, #microsoft-corp, #mnuchin-steven-t, #mobile-applications, #nadella-satya, #oracle-corporation, #sequoia-capital, #social-media, #suits-and-litigation-civil, #tiktok-bytedance, #trump-donald-j, #united-states-international-relations, #zhang-yiming-1983

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Mnuchin Paved Way for Postal Service Shake-Up

At President Trump’s behest, the Treasury Secretary sought out appointees who would restructure the United States Postal Service.

#absentee-voting, #appointments-and-executive-changes, #dejoy-louis, #democratic-party, #labor-and-jobs, #mnuchin-steven-t, #postal-service-us, #postal-service-and-post-offices, #presidential-election-of-2020, #republican-party, #trump-donald-j

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Trump’s Cabinet From Hell

The contest is over. Meet the winning Worst.

#barr-william-p, #carson-benjamin-s, #chao-elaine-l, #contests-and-prizes, #dejoy-louis, #devos-elizabeth-1958, #mnuchin-steven-t, #pence-mike, #pompeo-mike, #trump-donald-j, #united-states-politics-and-government

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Will Trump’s Executive Directives Provide Relief?

Because Congress controls federal spending, at least some of the measures will almost certainly be challenged in court. Or they may become moot if Congress reaches a deal.

#coronavirus-aid-relief-and-economic-security-act-2020, #cuomo-andrew-m, #evictions, #executive-orders-and-memorandums, #federal-emergency-management-agency, #federal-taxes-us, #internal-revenue-service, #layoffs-and-job-reductions, #mnuchin-steven-t, #payroll-tax, #pelosi-nancy, #personal-finances, #states-us, #student-loans, #treasury-department, #trump-donald-j, #unemployment-insurance, #united-states-politics-and-government, #wages-and-salaries

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Administration Officials Defend Executive Action on Pandemic Relief

Democrats criticized President Trump’s directives and called on top administration officials to resume talks over a broader agreement.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #executive-orders-and-memorandums, #federal-aid-us, #federal-budget-us, #federal-taxes-us, #house-of-representatives, #kudlow-lawrence-a, #labor-and-jobs, #mnuchin-steven-t, #payroll-tax, #pelosi-nancy, #schumer-charles-e, #senate, #small-business, #stimulus-economic, #treasury-department, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Pelosi Is Playing Hardball on Coronavirus Relief. She Thinks She’ll Win.

Emboldened by Republican divisions and a favorable political landscape, the speaker is refusing to agree to a narrow relief measure, unbothered by charges that she is an impediment to a deal.

#coronavirus-aid-relief-and-economic-security-act-2020, #meadows-mark-r-1959, #mnuchin-steven-t, #pelosi-nancy, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Trump Threatens to Bypass Congress as Stimulus Talks Fail Again

Democrats said the talks had been “disappointing,” and President Trump promised to use executive orders to provide relief if no agreement could be reached.

#coronavirus-aid-relief-and-economic-security-act-2020, #executive-orders-and-memorandums, #meadows-mark-r-1959, #mnuchin-steven-t, #pelosi-nancy, #schumer-charles-e, #stimulus-economic, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Oversight Member Blasts the Fed’s Efforts to Rescue Main Street

The Federal Reserve president leading the Main Street lending program testified before a congressional commission, as one member labeled it a “failure.”

#banking-and-financial-institutions, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #mnuchin-steven-t, #powell-jerome-h, #ramamurti-bharat, #rosengren-eric-s, #small-business, #treasury-department, #united-states-economy

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Trump Administration Penalizes Chinese Officials for Hong Kong Crackdown

These are the first punishments levied against officials in China and Hong Kong for repressing pro-democracy protests in the region.

#china, #communist-party-of-china, #embargoes-and-sanctions, #hong-kong, #human-rights-and-human-rights-violations, #lam-carrie-1957, #mnuchin-steven-t, #treasury-department, #trump-donald-j, #united-states-international-relations, #xi-jinping

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With Jobless Aid Expired, Trump Sidelines Himself in Stimulus Talks

As his top advisers met with Democratic leaders to try to hash out a compromise, President Trump hurled insults at Democrats and mused aloud about short-circuiting the talks and acting on his own.

#coronavirus-aid-relief-and-economic-security-act-2020, #house-of-representatives, #mnuchin-steven-t, #pelosi-nancy, #schumer-charles-e, #senate, #stimulus-economic, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Relief Package Deal Remains Elusive as Impasse Over Jobless Benefits Persists

Negotiators acknowledged some progress over the weekend, but said they remained far apart on a number of issues.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #house-of-representatives, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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As Trump Undercuts Aid Talks, White House Says Extra Jobless Benefits Will Lapse

President Trump signaled that he was not interested in a broad economic recovery package that would have to be negotiated with Democrats, saying he preferred a narrower plan.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #house-of-representatives, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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As Republicans Embrace Cut in Jobless Aid, Divisions Weaken Their Leverage

The proposal comes after Republicans struggled to iron out their policy differences with the administration and each other. Democrats are all but guaranteed to reject the offer.

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-budget-us, #mcconnell-mitch, #mnuchin-steven-t, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Trump Officials Float Idea of Narrow Bill to Extend Unemployment Benefits

The proposal on the eve of Republicans’ unveiling of a larger aid bill amounts to a concession that the two parties are unlikely to reach a deal before benefits expire.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #democratic-party, #federal-budget-us, #house-of-representatives, #labor-and-jobs, #law-and-legislation, #meadows-mark-r-1959, #mnuchin-steven-t, #republican-party, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government, #wages-and-salaries

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Republican Stimulus Talks Stall Over Differences on Unemployment

Disputes over how to extend supplemental jobless benefits — and a White House push for money for a new F.B.I. building — slowed efforts to agree to an opening bid in negotiations with Democrats.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-bureau-of-investigation, #law-and-legislation, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #politics-and-government, #republican-party, #schumer-charles-e, #senate, #stimulus-economic, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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A Hedge Fund Bailout Highlights How Regulators Ignored Big Risks

The Dodd-Frank financial law succeeded at making banks safer, but empowered shadowy corners of finance that nearly wrecked the system in March.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #dodd-frank-wall-street-reform-and-consumer-protection-act-2010, #federal-reserve-system, #financial-stability-oversight-council, #government-bonds, #hedge-funds, #mnuchin-steven-t, #prices-fares-fees-and-rates, #regulation-and-deregulation-of-industry, #securities-and-exchange-commission, #stocks-and-bonds, #treasury-department, #united-states-economy, #united-states-politics-and-government

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Republicans, Deeply Divided on Virus Aid, Near Agreement on Opening Offer

Republicans said they had reached an agreement in principle on their opening bid for coronavirus relief, but they remain divided. They have yet to even begin negotiating with Democrats.

#coronavirus-2019-ncov, #federal-budget-us, #law-and-legislation, #mcconnell-mitch, #mnuchin-steven-t, #payroll-tax, #stimulus-economic, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Republicans, Deeply Divided on Coronavirus Stimulus, Near Agreement on Opening Offer

Republicans said they had reached an agreement in principle on their opening bid for coronavirus relief, but they remain divided. They have yet to even begin negotiating with Democrats.

#coronavirus-2019-ncov, #federal-budget-us, #law-and-legislation, #mcconnell-mitch, #mnuchin-steven-t, #payroll-tax, #stimulus-economic, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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A Coffee Chain Reveals Flaws in the Fed’s Plan to Save Main Street

Businesses that want to use the Federal Reserve’s Main Street program cannot, and many that can use it have better options in the private market.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #coronavirus-reopenings, #credit-and-debt, #mnuchin-steven-t, #powell-jerome-h, #small-business, #united-states-economy

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Lobbyists, Law Firms and Trade Groups Took Small-Business Loans

The Trump administration began releasing details of which businesses received Paycheck Protection Program aid.

#coronavirus-aid-relief-and-economic-security-act-2020, #labor-and-jobs, #mnuchin-steven-t, #small-business, #small-business-administration, #treasury-department, #united-states-economy, #united-states-politics-and-government, #wages-and-salaries

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Congress Extends Small Business Loan Program for 5 Weeks

The House cleared the extension, which would give companies more time to apply for pandemic relief loans, sending it to the White House for President Trump’s signature.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #federal-aid-us, #house-of-representatives, #law-and-legislation, #mnuchin-steven-t, #shutdowns-institutional, #small-business, #small-business-administration, #treasury-department, #united-states-economy, #united-states-politics-and-government

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