Mnuchin Reportedly Floated Idea Of Restarting Stimulus Talks Tyler Durden Thu, 10/08/2020 - 10:37 With US stocks on yet another tear Thursday morning as the market has become enamored with the misperception that no stimulus now means 2x the stimulus after the election (an election the outcome of which is still very much uncertain), Politico reports that Treasury Secretary Steven Mnuchin has floated the idea of restarting stimulus talks with Nancy Pelosi, despite the growing number of obstacles to getting a deal done. Per Politico, Mnuchin isn't the only one urging Trump to consider restarting talks following his unprompted announcement earlier this week that he had ordered his administration to pull out of the talks, a comment that sent US stock futures plunging. The conversation reportedly occurred on Wednesday, as the GOP pushed for a industry-specific aide and enough money to send another round of stimulus checks. 🚨🚨NEW … Last night during a phone call w https://twitter.com/SpeakerPelosi?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");, https://twitter.com/stevenmnuchin1?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); floated restarting stimulus talks. Said he’d have to convince https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); first. They only substantively spoke about airlines, but https://twitter.com/stevenmnuchin1?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); continues to be extremely motivated to get a deal. — Jake Sherman (@JakeSherman) https://twitter.com/JakeSherman/status/1314208911654678530?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); >https://twitter.com/stevenmnuchin1?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); is, of course, not speaking for all Republicans in D.C., many of whom are VERY skeptical of a deal. — Jake Sherman (@JakeSherman) https://twitter.com/JakeSherman/status/1314209143792627716?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); There are SO MANY hurdles right now. — Scotus process begins next week — Senate GOP reluctance to a deal at the levels Pelosi wants. — House is out. — 26 days until Election Day. PELOSI will speak at 10:45 a.m. in the Capitol. — Jake Sherman (@JakeSherman) https://twitter.com/JakeSherman/status/1314209883047174144?ref_src=twsrc%5Etfw!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Mnuchin reportedly told Pelosi that he would need to convince President Trump first. In other news, two GOP senators have released a statement arguing against the targeted bailouts for airlines and other industries that are being discussed as an alternative to an omnibus stimulus bill sought by the Dems. Several embattled lawmakers who are facing difficult reelection fights have come out of the woodwork to urge Trump to return to the negotiating table as millions of Americans are out of work, and airlines are on the verge of massive layofffs. Most lawmakers who spoke to Politico were of the opinion that a deal likely wouldn't have materialized before the election. But now, Trump has positioned the GOP to take the political hit for failing to strike a deal. "It wasn't wise," one former Congressman said. There's reason to suspect Trump is having a change of heart: He's already walked back his decision by later urging Congress to pass standalone stimulus bills for airline relief, small business loans and more stimulus checks for workers/voters. The airline bailouts, as we noted above, has already drawn resistence from two GOP senators. Even Lindsey Graham, one of the president's most reliable yes-men, urged Trump to give the talks another shot, while touting a House Problem-Solvers Caucus "bipartisan" solution which pledges $1.5 trillion.