The many individuals and businesses in Texas and beyond that are still struggling amid the pandemic have the most at stake, particularly as COVID-19 infections and deaths continue and the economy only lurches toward a recovery. His campaign spokesman, Travis Considine, added that “Hegar’s pathetic attacks are an attempt to distract voters from the fact she refuses to offer specific solutions to our greatest challenges.”, “Sen. The NYSE Arca pharmaceutical index .DRG shot 4.66% higher. © BCNN1: Black Christian News Network One. Congress might be wise to take his advice. Continued congressional gridlock puts new pressure on Jerome Powell at the Fed ... the reasons for the recovery so far — especially among the poorest — was the initial burst of … WASHINGTON — Congress has returned to the nation’s capital from an extended break as stalemated as ever over a new round of coronavirus relief, increasing the possibility with each passing day that additional aid might not come until after the November election. “It escapes me, the logic of our Democratic friends in the Senate, who would prefer to have nothing for the people who are hurting rather than to try to negotiate something, even though it might not be perfect,” he said on a call with Texas reporters. If Democratic presidential candidate Joe Biden eventually takes the White House from President Donald Trump, a Republican, the party's most expansive spending plans for such things as a Green New Deal may be on hold. "I'm very reluctant, as you will imagine, to comment on the election, directly, indirectly, at all, other than to say it is a good time to step back and let the institutions of democracy do their jobs," Powell told a virtual monetary policy news conference.
Asked directly about the risk caused by uncertainty over the current U.S. vote, the threat that it could "trigger market turmoil" and what the Fed would do if that happened, the world's most powerful central banker answered firmly. Allred zeroed in on additional help for the airline industry and its workers.
“As Texans continue to face down simultaneous public health and economic crises, Senator Cornyn can’t be trusted to deliver real help and protections for working families,” Hegar spokeswoman Samantha Paisley said, accusing Cornyn of leaving Texans “in the dust.”.
As Canada and the U.S. wait for jobs numbers on Friday, the world's most powerful central banker repeatedly suggested the burden to sustain the economy cannot be the agency's alone. A surprise win by Republican Senator Susan Collins in Maine dimmed hopes by Democrats that they could get control of the U.S. Senate. Taylor, the Plano Republican, last week participated in the Dallas Regional Chamber panel discussion with Democratic Reps. Eddie Bernice Johnson and Colin Allred of Dallas and Marc Veasey of Fort Worth. Republicans responded with a $1 trillion offer, scaling back provisions such as the unemployment boost and adding measures like a Cornyn-authored coronavirus liability shield for businesses.
“Congressman Allred has consistently called on both parties to get back to the negotiating table immediately,” Hutchinson said. "We have been concerned that the downside risks, though, are prevalent now — which are really the risk of the further spread of the disease and also the risk that households will run through the savings they've managed to accumulate," he said. Growth stocks .RLG, currently comprised of a large portion of names in areas such as tech, surged 4.31% as investors expected them to keep outperforming value stocks as they have in recent months. Audience Relations, CBC P.O. It was the biggest daily percentage gain for the S&P 500 since June 5 and for the Nasdaq, since April 14. The S&P healthcare index .SPXHC jumped 4.45% to close at a record high, and the information technology sector .SPLRCT also gained strongly, as a divided Congress means slimmer chances for heightened antitrust scrutiny, capital gains taxes and a restoration of parts of the Affordable Care Act.
“Instead of negotiating and compromising to get needed relief to Texans months ago, Sen. Cornyn and his allies refuse to budge,” said Hegar, who has cited Cornyn’s coronavirus liability idea as a particular stumbling block. Powell said that one of the reasons for the recovery so far — especially among the poorest — was the initial burst of fiscal spending from Congress that put money in people's pockets and actually allowed many to tuck away savings. Some of the worst COVID-19 outbreaks have subsided, but the death toll in the U.S. has surpassed 190,000. Election season adds further complications, particularly in competitive races like Texas' Senate contest. He repeatedly came back to the issue of congressional support for more spending, insisting that fiscal support was essential for a speedy recovery from the deep recession caused by the COVID-19 pandemic. Both President Donald Trump and Democratic nominee Joe Biden still had paths to reach the 270 Electoral College votes needed to win as states kept counting mail-in ballots.
One reason the stock market soared in its post–Election Day trading session may be that it prefers political gridlock to a so-called blue wave.
While Powell insisted that the Fed was "not out of ammo" if the economy needed it, there was only so much that a central bank could do on its own to fight an economic crisis that he called "the most severe in our lifetimes.". Taylor said there needed to be targeted relief for restaurants and other hard-hit businesses. Still, advancing issues outnumbered declining ones on the NYSE by just a 1.36-to-1 ratio; on Nasdaq, a 1.26-to-1 ratio favored advancers.
Cornyn has defended the liability idea as critical to providing businesses a degree of certainty. It amounted to no progress at all, save for new opportunities for each side to blame the other. A near-permanent state of gridlock … Republicans warn of a dark plot to overthrow the Trump government and Democrats talk of a creeping authoritarianism unchecked by Congress. The healthcare index notched its biggest daily percentage gain in about seven months. That kind of debate goes the other direction, too. In Dallas and beyond, people take to the streets to both salute and dispute Biden win. While the lawmakers cited examples of common ground, each focused on a different priority.
The GOP-run Senate on Thursday forced a procedural vote on a pared-down relief bill, knowing there weren’t the votes to pass it in that chamber, much less in the Democrat-run House.
[US/]. The CBOE volatility index .VIX, a gauge for short-term volatility, hit a two-week low after spiking to a four-month high in the run-up to the election. The bill on Thursday received no Democratic votes, falling well short of the 60 votes needed to advance. BCNN1 is a part of that network. He has produced and reported for the CBC in Saskatchewan and Toronto and the BBC in London. “Our country is hurting,” Plano Rep. Van Taylor, a freshman Republican, said during a recent panel discussion that the Dallas Regional Chamber hosted with him and some other North Texas lawmakers.
Despite the rally in stocks, the potential for political uncertainty also sent investors to U.S. Treasuries, sparking the biggest one-day drop in 10- and 30-year bond yields since June. A Senate GOP victory means more gridlock in Congress.
Congress found a way early on to pass bipartisan legislation to combat the pandemic, but it has struggled for months to come up with additional relief. It’s not just the Senate race, either, signaling that the COVID response will feature prominently on the campaign trail. News that General Motors was putting a billion dollars into new Canadian production for its popular pickup trucks was certainly a herald of good news for the Canadian economy. The economy has rebounded in some respects, but hundreds of thousands of workers in Texas alone remain unemployed.
Write CSS OR LESS and hit save. CANDIDATE PROFILE: Jim Kennedy Wants to Tackle the Political Gridlock in Congress By Space Coast Daily // October 19, 2020 Jim Kennedy challenging 6-term incumbent Bill Posey Tom Benning.
But as both Canada and the United States decipher Friday's jobs data, fears persist that a disputed U.S. election will act as a drag on the economy on both sides of the border. Talks between Congress and President Donald Trump’s team have not advanced much from there, leading to the Senate GOP’s attempt this week to put forth a narrower, $500 billion proposal. Oil Prices Fall as U.S. Dollar Strengthens on Bets of No Big Fiscal Package, Bipartisan Prayer Initiatives Focus on 2020 Election and Candidates, Revive the Family, Revive the Church, Awaken the Nation, O Lord.
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