The biggest concern is how the fading fiscal stimulus and worsening pandemic will impact consumer spending, the biggest driver of the US economy. Democrats passed a $2.2 trillion stimulus package in early October. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have recently been close to an agreement on a stimulus package of around $1.9 trillion. Democrats may also be looking at favorable polling and betting that a potential blue wave will enable a bigger and perhaps better stimulus package early next year. Repeating the mistakes of the last recessionEven if Pelosi and Mnuchin do reach a deal, many Senate Republicans remain opposed to a nearly $2 trillion stimulus package.

Source: CNN October 27, 2020 18:11 UTC