Stimulus Package Proposed By Democrats Gets Lukewarm Response From Republicans

Senator McConnell Weighs Stimulus Package and Debt

The Democratic Party in the United States recently proposed a stimulus package in the House. Senate Republicans have said that it probably will not pass the way it is written because they are worried about the budget implications and the national debt. What does this stance mean to the currency markets and the value of the dollar.

Time will tell how this will influence the foreign exchange market that has followed closely the major currencies central banks and governments plan on handling the economic fall out from the Coronavirus. The U.S. passed one stimulus package that was friendly to workers and business owners even though some businesses will be making a last ditch effort to survive.

President Trump is maneuvering his way through the crisis in his traditional laid back style that irks many U.S. citizens. It appears the Democrats are looking for the President to lead the country in a more balanced fashion in regards to his plans to reopen the country.

The Democrats are asking for a bit more money for workers. I have heard that other countries have spent more on citizens than the United States has. The past month has saw more investors buying commodity currencies against the dollar as the markets wait for round two of a stimukus package in the United States. Senator McConnell is against the proposal.