ECONOMY Stimulus package is unlikely to get through Congress before the election, Goldman Sachs says

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currencyinvestor19
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ECONOMY Stimulus package is unlikely to get through Congress before the election, Goldman Sachs says

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Amid a continuing deadlock over the most important matters at hand, there’s little chance that Congress will pass economic stimulus before the Nov. 3 election, according to Goldman Sachs.

Less than two weeks before Election Day, chief negotiators for their respective parties remain at an impasse over key matters such as aid to states and business liability protections.

Though talks headed by Treasury Secretary Steve Mnuchin and House Speaker Nancy Pelosi could continue right up until the vote, Goldman said the likelihood of an agreement is fading.

“Some of the biggest issues remain unresolved and a deal doesn’t seem particularly close,” Goldman economist Alec Phillips said in a note for clients. “With big differences and little time, it seems unlikely that Pelosi and Mnuchin will reach a deal before the election. More importantly, even if a deal in principle is announced in coming days — this seems possible, but not likely — it looks very unlikely that it would pass before Election Day.”
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