Senate Majority Leader Mitch McConnell (R-Ky.) said Thursday that he would not put a potential $1.8 trillion+ deal struck by Democrats and the Trump administration on the Senate floor. “My members think half a trillion dollars, highly targeted is the best way to go,” he said.
Why it matters: The economy and American workers need help. Democrats say so. President Trump says so. Fed chair Jay Powell says so, adding that there’s a low risk of “overdoing it.” At some point, such inaction will catch up to investors.
This comes against a backdrop of a still-raging pandemic. Yesterday, for example, showed increased COVID-19 caseloads in all 50 states, while over 100 million Americans remain out of the labor force.