White House Walks Away from COVID-19 Relief Talk Table

We describe what transpired today related to COVID-19 relief talks. Investors should not be surprised. Each side was too far apart for a deal to be made unless the landscape changed. Both chambers of Congress were the immovable objects. The House came down to $2.2-$2.4 trillion (from $3 trillion). The Senate was somewhere between $500 billion and $1 trillion. The White House moved up to $1.6 trillion even though the Senate was not on board.

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