In this October 29 stimulus update I go over the leaked letter that Speaker of the House Nancy Pelosi wrote to Treasury Secretary Steven Mnuchin this morning as well as what White House Economic Advisor Larry Kudlow said on Fox News this morning about this letter as well as about stimulus and the economy in general.
In this letter, Nancy Pelosi basically blamed the Trump Administration for the lack of stimulus and said that she and the Democrats are still waiting a response from the White House team regarding various issues, including a national COVID-19 testing and tracing strategy, state and local funding, safe schools, child care, tax credits for working families, unemployment insurance, and OSHA and liability protection.
She also said that Senate Majority Leader Mitch McConnell has his hand on the pause button and that President Donald Trump will have to convince him otherwise if anything stimulus-related is going to get done.
She also complained about the millions of Americans that have to wait in line during a pandemic to vote and expressed frustration that the White House did not do more to fund the elections during coronavirus.
Larry Kudlow was on Fox News this morning talking about the leader. He claimed that left-leaning political publication Politico got its hands on it before Steven Mnuchin did. In any case, Kudlow clearly believes that based on this morning's Q3 GDP numbers that the economy is in a strong V-shaped recovery (he has been saying this for months) and that he doesn't see much hope for more stimulus.