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Chaotic Weekend in Washington Ahead; Trump Wants Stimulus

As leaders search for a large coronavirus relief package, things could not be more chaotic in Washington heading into the weekend. Last weekend, the President encouraged the efforts to negotiate a relief backing tweeting "Go Big". But then early in the week he announced that he had directed his Treasury Secretary to STOP negotiations with the Democrats in Congress. By Wednesday he was supporting some piecemeal ideas such as aid for the airlines and a $1,200 stimulus check, and on Friday the White House leaked that the Administration was preparing a $1.8T offer to give to Speaker of the House Nancy Pelosi. At the same time Senate Republican Leader McConnell was skeptical that a relief package could be approved by Congress prior to the election, and Speaker Pelosi seems firm in her demand that any package be at least $2T.

There are many parts that are not only moving but moving in different directions every day. With the strong encouragement from Fed Chairman Powell, there is widespread agreement that another large coronavirus package is needed; but the President's erratic positions makes it a difficult situation to read.

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