Wednesday, November 25, 2020
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Steve Mnuchin extends his overseas trip — despite failing to reach a deal on coronavirus stimulus

By PhillyNews.FYI , in News , at October 19, 2020 Tags: , , , , , , ,


Raw Story reported on Oct. 16 that U.S. Secretary of the Treasury Steve Mnuchin left the United States after repeatedly failing to reach a stimulus agreement with Speaker of the House Nancy Pelosi (D-CA). Now, it appears Mnuchin has extended his trip to the Middle East by an extra day. The media has not been given any information on his whereabouts or with whom the meetings are taking place.

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Mnuchin was expected to travel to Israel, Bahrain and the United Arab Emirates from Oct. 17 through Oct. 20. Negotiations were expected to resume upon his return to the U.S. on Oct. 20.

Pelosi and Mnuchin had a scheduled phone call Saturday and were expected to negotiate further upon his arrival Sunday.

“As soon as I get it, which I haven’t gotten yet, then we will talk about it, probably on Sunday,” Pelosi had said.

On Monday, Pelosi updated her statement, saying that an economic stimulus deal must be struck within 48 hours in order for Congress to pass legislation before Election Day.

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The stock market noticed the discord Monday as the Dow Jones industrial average dropped sharply by the closing bell, giving up 408.8 points, or 1.43 percent. The S&P 500 index fell by 56.9 points, or 1.63 percent, at the end of the trading day, while the tech heavy-Nasdaq lost 192.7 points, or 1.65 percent.

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