Federal Reserve Chair Jerome Powell is expected to tell lawmakers at three separate hearings on Capitol Hill this week that a new fiscal package is critical to the economy's recovery. Wall Street's main indices hit their lowest in nearly seven weeks on Monday, on fresh concerns a package could be delayed.
The fight over the Supreme Court seat"might also increase the odds of the Democrats capturing the Senate in the election," they wrote, an outcome widely thought to boost chances of a bigger fiscal stimulus."If the 2020 election results in unified Democratic government, this would likely allow a President Biden to pass a large spending increase," Goldman Sachs economists wrote in a note before Ginsburg's death.
Dallas Fed President Robert Kaplan said he was not sure of the impact of the tussle, but said corporations are particularly focused on the implications for healthcare.