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Trump prepares roughly $1.8 trillion economic relief offer to Pelosi, administration officials say

Trump prepares roughly $1.8 trillion economic relief offer to Pelosi, administration officials say

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a castle on top of a building: The White House is seen in Washington, early Tuesday, the morning after President Trump returned from the hospital where he was treated for COVID-19.


© J. Scott Applewhite
The White House is seen in Washington, early Tuesday, the morning after President Trump returned from the hospital where he was treated for COVID-19.

President Trump made the stunning announcement that he and First Lady Melania Trump had tested positive for COVID-19 early Friday, Oct. 2. Since that time, several others in Trump’s circle have tested positive for the virus. Here’s the latest about what we know:

  2:31 p.m.  

Trump won’t travel over weekend, ending Florida rally plan

By Bloomberg News

President Trump will remain at the White House this weekend, people familiar with the matter said, after he said he wanted to hold rallies in Florida and Pennsylvania despite questions over the stage of his recovery from COVID-19.

Trump, who told Fox’s Sean Hannity late Thursday that he wanted to hold rallies Saturday and Sunday, won’t travel until Monday at the earliest, said the people, who spoke on condition of anonymity.

Trump has been eager to return to the campaign trail, as Democratic nominee Joe Biden widens his lead just weeks before the Nov. 3 election. Trump has released recorded video messages saying he’s well, and his physician said in a statement Wednesday that the president had been free of symptoms for the previous 24 hours.

  2:29 p.m.  

Hope Hicks returned to the White House to help Trump – then the virus hit

By The Washington Post

When she returned to the White House on March 9 after two years away and a lucrative stint in corporate PR, Hope Hicks was supposed to be a talisman to re-create the magic of President Trump’s against-the-odds 2016 campaign.

The Russia investigation that she had been caught up in was over, the impeachment had just ended and the headlines about her

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Fed officials fear lack of stimulus will stifle the US economic recovery, according to September meeting minutes

Fed officials fear lack of stimulus will stifle the US economic recovery, according to September meeting minutes



a man wearing a suit and tie: Getty Images / Tasos Katopodis


© Getty Images / Tasos Katopodis
Getty Images / Tasos Katopodis

  • Minutes from the Federal Open Market Committee’s September 15-16 meeting show Federal Reserve officials raising concerns that a lack of new fiscal support could hinder the US economic recovery.
  • FOMC participants “assumed the enactment of some additional policy support this year,” according to the minutes. Without such support, “the pace of the economic recovery would likely be slower,” they added.
  • The meeting came roughly three weeks before President Trump abruptly halted negotiations on a new bill, saying in a Tuesday tweet he would freeze stimulus talks until after the presidential election.
  • Some FOMC members fired back at the president’s action. Letting the economy move forward without congressional support is like “letting the forest fire just rage,” Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said Wednesday.
  • Visit the Business Insider homepage for more stories.

Federal Reserve officials raised concerns about a lack of additional fiscal stimulus during their September meeting, roughly three weeks before President Donald Trump axed negotiations for new aid.

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Minutes of the Federal Open Market Committee’s September 15-16 meeting revealed policymakers “assumed the enactment of some additional fiscal policy support this year.” Without such support from Congress, “the pace of the economic recovery would likely be slower,” according to the minutes.

The absence of new stimulus would also “exacerbate economic hardships in minority and lower-income communities,” FOMC participants added. The two groups are among those hit hardest by the virus and its economic fallout.

“For the time being, the Fed is sending the message that they have, in fact, done a lot already,” Bob Miller, BlackRock’s head of fundamental fixed income in the Americas, said. “What is clearer, however, is the committee members’ revealed preference that fiscal policy is the optimal response

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