Search ForexCrunch

In a Fox News interview, US senate republican leader McConnell says the next corona stimulus bill is not too far off.

The prior day,  McConnell stressed to President Trump that the next coronavirus relief package cannot exceed $1 trillion, and should be narrowly focused on getting money in people’s hands immediately.

Axios explained that the “Senate Republicans’ backlash against House Democrats’ $3 trillion bill has been so severe that it has eased pressure on McConnell to act instantly on a “phase 4″ bill, and McConnell is focused on ensuring that the next bill is much smaller.”

McConnell told Trump the bill needs to be tailored toward short-term economic relief and create incentives for people to get back to work.

He said he worries that additional unemployment payments will discourage people from working, and instead suggested supplementing some workers’ paychecks.

In earlier news today, US President Donald Trump that there will be no lockdown on a second wave of COVID-19: US Pres Trump: Will not close the country if a second wave of virus hits

Meanwhile, US markets were soured overnight by poor jobs data and caution around COVID-19: Wall Street Close: Mixed sentiment, lower stocks, benchmarks tussle with tough resistances