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The New York Federal Reserve has predicted a much more modest 3.5 percent GDP growth rate for the fourth quarter, while other experts are predicting a so-called double-dip recession, especially if large parts of the country reimpose the lockdowns that plunged the economy into a death spiral in the first place.
Democrats and Republicans have engaged in a prolonged battle over a second Covid-19 stimulus package, with the measure currently on ice after Trump initially said he wouldn’t pass any such legislation until after the election. After that move proved wildly unpopular with all but his most fervent supporters, he relented, suggesting he’d be open to a standalone bill to send struggling US households a check – only for House Speaker Nancy Pelosi to categorically refuse a $1.8 trillion aid package even the other Democrats were willing to choke down.
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