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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.
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 (BTC) 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.
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
