President Donald Trump effectively killed any chance of a new coronavirus relief package ahead of the presidential election when he tweeted Tuesday that he wouldn't agree to a deal until "after I win."
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Trump then praised the state of the economy, pointing to the stock market, unemployment and recent job gains. In the minutes after his tweet, the Dow Jones Industrial Average plunged by more than 400 points.
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Trump slammed the door on a pre-election deal hours after Federal Reserve Chairman Jerome Powell said more stimulus to the economy is necessary, saying the recovery has "a long way to go."
Pointing to promising recent economic developments, Powell said easing up on added relief could "lead to a weak recovery, creating unnecessary hardship for households and businesses."
https://www.nbcnews.com/politics/do...s-talks-tweets-no-deal-until-after-i-n1242312
The stock market, which had been propped up by distant hopes of a stimulus deal, immediately plummeted. The malpractice, for a guy who’s already facing the worst deficit in a presidential race since Bob Dole in 1996, is staggering to me. It’s not like Speaker of the House Nancy Pelosi and Treasury Secretary Steve Mnuchin were on the precipice of a deal, but they were making marginal progress. I guess, what strikes you as most incredible here? That he’s willingly crashing the stock market and the economy a few weeks before Election Day? That he’s assigning himself direct blame for the collapse in negotiations by announcing that he has ended them? That he’s boosting Democrats’ message that Republicans are too focused on ramming through a SCOTUS nominee instead of fixing the economy? That his tweet about the stock market being at record levels sent markets spiraling? Where do we begin with this?
https://slate.com/news-and-politics...lus-negotiation-democrats-pelosi-mnuchin.html
...
Trump then praised the state of the economy, pointing to the stock market, unemployment and recent job gains. In the minutes after his tweet, the Dow Jones Industrial Average plunged by more than 400 points.
...
Trump slammed the door on a pre-election deal hours after Federal Reserve Chairman Jerome Powell said more stimulus to the economy is necessary, saying the recovery has "a long way to go."
Pointing to promising recent economic developments, Powell said easing up on added relief could "lead to a weak recovery, creating unnecessary hardship for households and businesses."
https://www.nbcnews.com/politics/do...s-talks-tweets-no-deal-until-after-i-n1242312
The stock market, which had been propped up by distant hopes of a stimulus deal, immediately plummeted. The malpractice, for a guy who’s already facing the worst deficit in a presidential race since Bob Dole in 1996, is staggering to me. It’s not like Speaker of the House Nancy Pelosi and Treasury Secretary Steve Mnuchin were on the precipice of a deal, but they were making marginal progress. I guess, what strikes you as most incredible here? That he’s willingly crashing the stock market and the economy a few weeks before Election Day? That he’s assigning himself direct blame for the collapse in negotiations by announcing that he has ended them? That he’s boosting Democrats’ message that Republicans are too focused on ramming through a SCOTUS nominee instead of fixing the economy? That his tweet about the stock market being at record levels sent markets spiraling? Where do we begin with this?
https://slate.com/news-and-politics...lus-negotiation-democrats-pelosi-mnuchin.html