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McConnell hints that COVID-19 relief package might wait till early 2021

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Senate Majority Leader Mitch McConnell (R-Ky.) hinted on Friday that the long-delayed second coronavirus economic relief package might be delayed until the beginning of the new year.

When asked by conservative radio host Hugh Hewitt about the legislative agenda during the next session of Congress, presuming the GOP maintains control of the Senate after November 3, McConnell drifted to coronavirus relief.

Read the full interview transcript here.

“We probably need to do another package, certainly more modest than the $3 trillion dollar Nancy Pelosi package,” said the Kentuckian, referring to the package that the Democrat-controlled House of Representatives passed back in May.

“I think that’ll be something we’ll need to do right at the beginning of the year,” he added. “We could target it particularly at small businesses that are struggling, and hospitals that are now dealing with the second wave of the Coronavirus, and of course the challenges for education, both K-12 and college.”

The first economic relief package was passed by both houses and signed by the President back in March. A second package has been stalled since the summer and pressure has been mounting for both parties to agree to some form of a deal so that the tens of millions of unemployed Americans can get their stimulus checks in the mail.

You can follow Douglas Braff on Twitter @Douglas_P_Braff.

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Economy

Federal Reserve Economist on hidden camera: ‘we don’t want Trump to be in the government’

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Hidden Camera captures Principal Economist at the Federal Reserve talking about Jerome Powell’s legacy as “somebody who held the line against like, Trump.” According to hidden camera footage of Aurel Hizmo, principal economist at the Federal Reserve, the U.S. agency could have fixed inflation a while ago but refused to do so for fear of hurting President Joe Biden’s re-election efforts.

Hizmo told an undercover reporter that the Fed stopped raising the rates to tackle inflation because it could cause a recession that would likely end Biden’s 2024 campaign.

The influential agency responsible for maintaining a stable monetary system appears to not just be establishing interest rates, but to be setting policies for desired social outcomes. “Under Powell, the Fed has changed to think about equity issues, like racial issues, think about wealth inequality as part of the mandate, as part of the things we are following. Think about climate change.” Aurel Hizmo, Principal Economist at the Federal Reserve, who prior to working at the Fed was an Assistant Professor helps write speeches for Federal Reserve Board Chair Jerome Powell for the Federal Open Market Committee.

Hizmo says “Trump is just a crazy person” and conservatives are “dumb” as he describes to OMG’s American Swiper Citizen Journalist a politicized Federal Reserve Board where Powell has promoted ESG issues like climate change and “wants to be remembered in history” “as a savior.” But shhh…don’t tell anyone because Hizmo says: “I’m just really worried that I’m saying stuff that’s classified…It’s all classified.”

 

 

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