US Senator Sanders: Democrats will use reconciliation to pass Covid-19 relief package – CNN
|CNN quotes the incoming chairman of the US Senate Budget Committee, also a Vermont Senator, Barnie Sanders, while brushing off the doubts over the $1.9 trillion coronavirus (COVID-19) relief package from US President Joe Biden.
“Democrats would use a rare procedural tactic to pass major parts of a Covid-19 relief package if Republicans refuse to move on the measure,” per the news.
Senator Sanders also mentioned, "If we do not respond now, yes, I believe two years from now the Republicans will say, 'Hey, you elected these guys, they did nothing, vote for us,' and they will win."
It should be noted that the report also said, “There are still questions about what parts of Biden's Covid-19 relief package would be allowed to advance under reconciliation. Some aides have identified that items like the $15 minimum wage could struggle to meet the criteria.”
FX implications
The news seemed to have offered consolidation in the risk tone while backing the stimulus hopes. As a result, S&P 500 Futures print 0.20% intraday gains by press time of early Asian session on Monday.
Also read: Gridlocked Washington and covid risks to weigh on risk appetite
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.