1️⃣ The House of Representatives plans to vote on the $ 1.9 trillion stimulus package at the weekend
The US House of Representatives will vote on Friday on the US $ 1.9 trillion bailout bill proposed by Mr. Biden, said Representative Steny Hoyer, the House's No. 2 Democrat.
- The American people strongly support this bill and we are moving quickly to make it into law, "Hoyer said on Twitter Tuesday.
The House Budget Committee approved the measure on Monday. Adopting new bailout packages to reduce the economic damage caused by the pandemic is a top priority for Democratic President Joe Biden.
Although polls show that Americans want more economic support, Democrats - which control Congress closely - and Republicans have been very different in their views about whether it has how can be given.
The number of coronavirus deaths of the United States this week surpassed half a million, along with millions of others are infected and unemployed.
2️⃣ Fed Chairman - J. Powell's statements during Monday's hearing to House Financial Services Committee:
- Inflation may take more than 3 years to reach the Fed's inflation target.
- Fed will continue to keep interest rates low.
- Repeat commitment to continue buying bonds to support the economy.
=> The Chairman's comments are a sign that the Fed plans to keep interest rates unchanged for a long time, at least 3 years. Fed will be ready to keep the stimulus to support the economy in the next 3 years. This allayed concerns about the possibility that the Fed would soon raise interest rates when the economy began to recover. Gold has the potential to increase in the near future.
3️⃣ Notable facts and data for today
- At tonight, the United States will announce the adjusted value of the annual real GDP ratio for the fourth quarter, which is expected to be adjusted up to 4.2%. Also announced is the monthly rate of US durable orders in January, is expected to hit a record 1.1%.
At tonight, Bostic, the 2021 FOMC voting committee and Atlanta Fed president, delivered the opening speech at the 2021 virtual banking outlook hosted by the Atlanta Fed. In the early hours of Friday morning, the 2021 FOMC voting committee, the Atlanta Fed President, Bostic, and the FOMC permanent voting committee, New York Fed President, Williams will also make speeches.
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