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The Trump administration is ready to take mover coronavirus spending action if needed but the final product will not look like House Democrats’ plan, White House Council of Economic Advisers Chairman Kevin Hassett told CNBC on Monday.

“Right now, it looks like China trade deal still being adhered to,” Hassett added.

Market reaction

These comments had little to no impact on market sentiment. As of writing, the S&P 500 futures were up 2.4% on the day to suggest that Wall Street’s main indexes are set to open the day sharply higher.