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Trump Says He Would Increase Stimulus Offer to Reach Deal With House Democrats: Report
There's still a chance a stimulus package can be passed before the presidential election, but those chances are fading, said the U.S. president.
Updated Sep 14, 2021, 10:10 a.m. Published Oct 15, 2020, 3:14 p.m.
U.S. President Donald Trump said Thursday he's prepared to increase his $1.8 trillion stimulus offer if it helps reach a deal with the Democrat-led House of Representatives, Reuters reported.
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- House Democrats have been seeking a $2.2 trillion package.
- Trump said Thursday on Fox Business Network there's still a chance a stimulus package can be passed before the presidential election, but those chances are fading, Reuters reported.
- The president's comments may rankle some in the Republican-led Senate who had objected to the size of Trump's current offer.
- Why this matters to crypto: Bitcoin prices have been buoyed this year as investors bet that trillions of dollars of government and central bank spending around the world in response to the coronavirus-induced economic slowdown will inevitably result in inflation, and therefore be positive for the cryptocurrency.
- As such, if a stimulus deal is reached, BTC may rise further.
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