Pelosi Cites Fed Chair’s Warning to Prod GOP on Bigger Stimulus
- Powell says insufficient stimulus is riskier than too much
- Trump joined call with GOP leaders on virus-related aid
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House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin face increasing pressure to strike a deal on a fiscal-stimulus bill, with a fresh warning from Federal Reserve Chair Jerome Powell that the U.S. economy will suffer if policy makers fail to step up.
Pelosi called on Republicans to get on board with a version of the coronavirus relief package the House passed last week with only Democratic votes. But significant gaps remain between the Democrats’ $2.2 trillion proposal and a $1.6 trillion offer backed by the White House.