While both House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin on Thursday indicated openness to restart talks on a package that have been stalled since early August, there’s no indication either side is ready to change its most recent negotiating position.
JPMorgan Chase & Co. joined Goldman Sachs Group Inc. economists in dropping forecasts for US economic growth in coming months thanks to the failure of Republicans and Democrats to seal a fiscal-stimulus deal.
“We are further lowering odds of getting the US$1-1.5 trillion ($1.38-$2.06 trillion) in additional stimulus that had seemed quite likely as recently as July,” Michael Feroli, JPMorgan’s chief US economist, wrote in a note Thursday.
