1️⃣ Debate around the US stimulus package heated up again
On Sunday, 10 US Republican senators urged President Joe Biden to significantly reduce the $ 1.9 trillion bailout package to win bipartisan support as Democrats National Assembly owners prepare to step up this stimulus plan.
Biden has responded by inviting Republican lawmakers to the White House this week for discussion, even as he continues to seek a large stimulus package, spokesman Jen Psaki said.
- The senators said the meeting was scheduled for Monday afternoon, at 17:00 US time.
Previously, a top White House economic adviser signaled his readiness to discuss ideas that Republicans came up with, on a $ 600 billion alternative.
However, Brian Deese, director of the National Economic Council, told NBC's "Meet the Press" program that President Biden was not ready to compromise.
Mr. Biden and Democrats are looking to capitalize on their control of the House and Senate to quickly realize the President's primary goal of resolving the pandemic.
Senate Majority Leader Chuck Schumer said Senators will begin working on the stimulus earlier this week, while House of Representatives Speaker Nancy Pelosi said Congress will finish preliminary steps before the weekend .
Mr. Biden has proposed $ 160 billion for vaccines and testing, $ 170 billion for schools and universities, and a direct payment fund to the people worth $ 1,400 per person, and lots of support. other aid.
2️⃣ The unemployment rate in the EU is stable
- European Union statistics office Eurostat has said that unemployment in the Eurozone stabilized at 8.3% in December, despite the blockade continuing in the bloc's regions.
However, Eurostat said 13,671 million people were unemployed in 19 euro-sharing countries in December, up from 13,616 million in November.
- In Belgium, Ireland, Cyprus, Lithuania, the Netherlands, Portugal and Slovakia, the real number of unemployed decreased in December, but increased slightly in other countries, such as Germany, France and Italy.
- To reduce the unemployment rate during the pandemic, eurozone countries have used affiliate systems in which the government subsidizes a portion of the salary to help employers keep employees on the payroll. their. This prevents layoffs and means production capacity can be more easily recovered.
3️⃣ Notable economic facts / data today
The OPEC + Joint Technical Committee (JTC) and the Joint Ministerial Oversight Committee (JMMC) will meet today and tomorrow.
- Reserve Bank of Australia announced its decision on interest rates. Most economists expect the Reserve Bank of Australia to extend a 100 billion Australian dollar quantitative easing program.
Tomorrow morning, the FOMC 2021 Ticketing Committee and Atlanta Fed President Bostic will speak at a webinar on job markets hosted by the Federal Reserve and Fed Atlanta, Boston, Cleveland and Philadelphia organizations.
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