1/ Trump ordered negotiators to stop talks with Democrats on a new coronavirus relief package until after the election, tweeting that he won’t agree to a deal until “after I win.” In a series of tweets, Trump said he rejected the Democrats’ latest proposal because – he claimed – House Speaker Nancy Pelosi “is not negotiating in good faith.” The House passed a $2.2 trillion bill last week – down from its earlier $3.5 trillion package. Treasury Secretary Steven Mnuchin had proposed a $1.6 trillion deal in response. The two sides remained at odds over how much state and local aid to include in an agreement. Federal Reserve Chairman Jerome Powell, meanwhile, warned that “too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses.” Powell said a prolonged slowdown could trigger “typical recessionary dynamics, as weakness feeds on weakness,” and that such a slowdown could exacerbate existing economic disparities, which “would be tragic.” Powell added: “The risks of overdoing it seem, for now, to be smaller.” The Dow fell by almost 400 points, and the S&P 500 and Nasdaq were also down by around 1.5% each. (NBC News / Bloomberg / Wall Street Journal / CNN / New York Times / CNBC / Wall Street Journal / Axios / Politico)
This is a companion discussion topic for the original entry at https://whatthefuckjusthappenedtoday.com/2020/10/06/day-1356/
Apologies while we work through how to do this best.