At the same time, he also pointed out that under the lame duck state of transition between the old and the new presidents, any plan currently approved by Congress is not enough, and additional action is needed in January next year. Its important, but its just the beginning, he said. Congress needs to act again in January. .
Once I take office, I will ask for more relief. We are looking at hundreds of billions of dollars. He added.
On Friday, the U.S. Labor Department released far less than expected non farm employment data, which was almost half of the expected value. But worse, novel coronavirus pneumonia statistics in November are due to be released in mid November, and the recent surge in new crown pneumonia cases in the United States actually started in late November. In recent days, the development trend of the epidemic situation in the United States is more unstoppable, and the data of various kinds of epidemic situation have reached new highs repeatedly: 218000 new confirmed cases were found in the United States on Thursday, reaching a record high again.
Therefore, some analysts believe that the dark moment of the U.S. employment market may not yet come, and the non-agricultural data is likely to return to negative value in the future. The weak employment market will further pressure the U.S. economy, and the hard won recovery may vanish and Americans will walk on thin ice. At this juncture, an immediate launch of a new round of financial rescue measures seems to be the only way.
House Speaker Nancy Pelosi later commented that the data is new evidence that Congress needs to pass the stimulus bill, which further suggests that only fighting the new coronavirus can the economy develop. Chuck Schumer, the Democratic leader of the Senate, also said that the non farm report sounded a warning that the U.S. economy was going to double dip and that there was a need for a strong emergency response to the epidemic, which was more urgent than ever before.
Source of this article: Yang Bin, editor in charge of CFA_ NF4368