Trump has suspended talks with Democrats to support the economy

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US President Donald Trump has suspended talks with Democratic lawmakers on a new aid package to support the economy hit by the covid-19 pandemic. The talks are not to take place until after his re-election, Trump said on his Twitter account. The election of the head of state will take place in the USA on November 3.

Trump said on Twitter, I instructed my deputies to stop negotiations until the election, when immediately after I win, we will pass a major stimulus law that will target hard-working Americans and small businesses.

According to Trump, House Democrat Nancy Pelosi did not negotiate in good faith. He also said he had asked Republican Senate Leader Mitch McConnell to focus on confirming his candidate for Supreme Court Amy Coney Barrett before the election.

The White House said last week that it supported a $ 400-a-week unemployment benefit during the pandemic, and hinted at a $ 1.6 trillion in covid relief. Pelosi declined the offer.

The Speaker of the House responded to the President's move by stating that Trump puts his interest above the interest of the country.

Pelosi said, President Trump's abandonment demonstrates that he does not want to fight the virus.

US Federal Reserve chief Jerome Powell warned today before Trump's announcement that the economic recovery of the United States remains uncertain without further stimulus.

Too little economic support would lead to a weak recovery and cause unnecessary inconvenience to households and businesses, Powell said in a video call to the National Association of Business Economists (NABE) about the economic outlook.

Negotiations on another package of aid to the economy began in July, but then took several weeks. Pelosi and Finance Minister Steven Mnuchin later reopened the meeting. Democrats last tried to push for a $ 2.4 trillion package, which was one trillion less than their original proposal, but also more than the Trump administration wanted to accept. In September, Mnuchin indicated that the government would not accept a package higher than $ 1.5 trillion.