Wrap And Wrangle: New Wrinkle In Stimulus Bill, But Markets Take It In Stride

  • Date: 23-Dec-2020
  • Source: Forbes
  • Sector:Economy
  • Country:Middle East
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Wrap And Wrangle: New Wrinkle In Stimulus Bill, But Markets Take It In Stride

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Key Takeaways:



Trump wants $2,000 stimulus checks instead of $600

Weekly jobless claims come in less than expected

Conference Board's consumer confidence index slumps



After Congress passed the coronavirus relief bill, it seems that many in the market thought a signing by the president was a foregone conclusion. But in hindsight maybe it shouldn't have been such a surprise that the package, long a focus of congressional wrangling, might be subject to a little bit more drama.

President Trump last night, in a video on Twitter, disparaged the bill and called for changes, including raising the $600 stimulus checks to $2,000 for individuals. House Speaker Nancy Pelosi tweeted that Democrats are “ready to bring this to the floor this week by unanimous consent.”



The market, based on futures activity, initially was under pressure after the news, but has since recovered ground. Perhaps investors have been thinking about the bill being passed with veto-proof majorities in both houses of Congress, although Trump didn't say he would veto it. If Trump simply doesn't sign it, it could still become law.



On the other hand, if