President Donald Trump told his negotiators to stop talks with Democratic leaders on a fiscal stimulus package, hours after Federal Reserve chair Jerome Powell’s strongest call yet for greater spending to shore up the economic recovery.
The S&P 500 Index was down about 0.8% in New York, after having risen earlier in the day in the wake of Powell’s mounting pressure on policymakers to act. The speaker had invoked Powell earlier on Tuesday in urging Republicans to endorse a bigger package. She and Treasury Secretary Steven Mnuchin, who had sat down in person for negotiations last week for the first time since August, had been expected to hold another discussion by phone Tuesday afternoon.
Pelosi earlier told her Democratic colleagues that she and Mnuchin disagreed on assistance to state and local authorities, spending to address the coronavirus and getting aid to ordinary Americans remain, according to a House official.
WE SHOULD HAVE LISTENED WTF :