White House considers more economic stimulus aid

Friday’s negative data from the U.S. job market led to informal talks between White House, Republicans and Democrats in Congress. They discussed what more to include to support the broken American economy.

US Capitol

During last weekend, officials in Donald Trump’s administration, including Treasury Secretary Steven Mnuchin and White House economic advisor Larry Kudlow, discussed with lawmakers how to process financial aid to those U.S. states devastated by the coronavirus pandemic.

Reuters informed that the aid could involve food aid for those Americans suffering from hunger amid job losses. During April, the unemployment rate rose to 14,7% from 4,4% reported in March. Based on data provided by Bureau of Labor Statistics (BLS), roughly 20.5 million Americans have lost their jobs only during this month.

House of Representatives (the lower house of Congress) is led by Democrats, who have already expressed their willingness to support legislation to release another stimulus package. Yet, White House remains rather irresolute. “Let’s give it a few weeks,” Mnuchin said to For News on Sunday. Since the beginning of March, Congress has approved stimulus packages in the overall amount of $3 trillion, including direct payments to American households. Therefore, further help is yet expected to come.


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