The deal would maintain the central bank's ability to set up emergency lending programs without congressional approval, the Journal said, but the Fed would require approval to restart existing Cares Act programs once they expire at the end of this year. According to the Journal, Senate minority leader Chuck Schumer said the House and Senate could vote on the deal on Sunday. Lawmakers could now "begin closing out the rest of the package to deliver much-needed relief to families, workers, and businesses," a spokesman for Senate majority leader Mitch McConnell told the newspaper. Before the deal was reported, President Donald Trump tweeted: "Why isn't Congress giving our people a Stimulus Bill? The $2.2 trillion package was credited with preventing a much more severe economic downturn.

Source: Dhaka Tribune December 20, 2020 10:52 UTC