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Free AccessStimulus Deal: Devil Is In The Details
Re White House Advisor Kudlow's comments that Trump has approved a revised stimulus package - a skeptic might say: Kudlow saying it's a "relatively" broad-based deal "but I can't go through details" means it may yet fall short of Democratic demands on size and scope.
Politico's Jake Sherman notes re Kudlow's comment that only the "finishing touches" are required: "Just a note: This is not where the negotiations stand. Larry Kudlow is not and has not been involved with any negotiations here."
WSJ now reports that the White House's offer will be $1.8trn, below the $2trn+ the Democrats have previously sought. Again, the devil is in the details.
Pelosi doesn't seem to be that keen to hand the White House a win ahead of the election. Plus there's still the hurdle of Senate passage. The update post-Pelosi/Mnuchin call will be key. A lot of shades of the US-China Phase One deal back-and-forth here.
At least both sides are back talking, so never say never, but unclear it's a done deal or even close to one, particularly given the election is imminent.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.