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02.07.202010:30 Análisis del mercado Forex: Trump supports another stimulus package

Exchange Rates 02.07.2020 analysis

On Wednesday, US President Donald Trump announced his support for another bill to stimulate the US economy, but expressed his want to include incentives for Americans to return to work, which created conflict with Democrats in Congress over unemployment benefits.

"We want to create a very good incentive to work so we are working on it, and I'm sure that we will all come together," Trump said.

This indicates that the Trump administration will oppose the Democrats' attempts to renew their $ 600 weekly unemployment allowance, which was provided earlier to help amid the coronavirus.

Many Republicans argue that the supplementary allowance encourages workers to remain unemployed, so they would prefer to provide benefits for workers returning to work.

Trump said that the current financial aid structure has created an obstacle to getting back to work.

"It was an incentive not to go to work. You would have made more money if you hadn't gone to work," Trump said in an interview. "People didn't want that. They wanted to go to work but it wouldn't make sense because they earned benefits."

Administration officials said that they would calibrate their response in terms of further incentives based on the economic data to be provided over the next few weeks.

Negotiations on the said bill are not expected to resume until the Congress returns after the July 4th Independence Day holiday.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Andrey Shevchenko,
Experto Analítico
Grupo InstaForex © 2007-2021
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