'More anti-depressant than stimulus': 5 reactions to the $900 billion relief package that the House is set to vote on today
- Congressional leaders said Sunday that they have agreed to a $900 billion stimulus deal after months of prolonged negotiations.
- The deal includes $600 stimulus checks, $300 per week in unemployment benefits, and $300 billion in aid for small businesses.
- Below are five reactions from analysts and investors to the federal assistance package.
US congressional leaders struck a much-anticipated $900 billion stimulus deal on Sunday. The package includes $600 direct payments for most adults and $300 a week in unemployment aid, among other provisions.
The House is expected to vote on the federal package later on Monday.
Here are five reactions to the legislation:
Naeem Aslam, chief market analyst at AvaTrade
"Now that we have the second stimulus aid package, it should relieve some pain for the economy. But what the government needs to make sure is that it doesn't make blunders like the last time when it sent checks in the name of dead people."
Chamath Palihapitiya, billionaire venture capitalist
"$600?!?! As in, the stimulus these idiot politicians finally agreed to give middle class Americans while continuing to pump billions into the markets via the Fed and Treasury. News flash: I DON'T NEED THE HELP! Our politicians are all so old, out of touch and stupid." - Palihapitiya said this in a tweet.
Paul Donovan, chief economist at UBS Global Wealth Management
"The package is more anti-depressant than stimulus, although sending adult Americans $600 might lead to more spending."
Jeffrey Halley, senior market analyst at OANDA
"The US fiscal package scope highlights the weak negotiating position that the Democrats have, having failed to gain control of the US Senate in the November election."
Rabobank analysts
"Congress may have finally agreed on a fiscal relief package but this morning the markets have been unable to rouse the enthusiasm to push higher. The combination of over-crowded trades, the approach of year-end and another wave of worrying news regarding COVID-19 has left stock markets mostly in the red overnight and futures trading lower."