The president, in a series of tweets on Friday, accused Democrats of standing in the way of additional unemployment aid, checks to individuals and assistance for small businesses.
Trump took executive action last week to tap $44 billion in disaster aid funds to provide $300 a week in extra unemployment aid. He also let businesses defer payroll taxes. Yet it’s unclear how quickly Americans will see the extra money. And some employers may continue to withhold deferred payroll taxes since under current law they will be owed early next year.
Although it’s unclear how much of an effect the actions will have, they gave the president and Republican lawmakers an answer for voters looking for action.
Fed officials have been warning for weeks that the economy needs another big fiscal infusion.
“If we go very long without somehow addressing the reduction and evaporation of that support, I think it’s going to show up in lower aggregate demand,” Chicago Fed President Charles Evans said last week, “and that would be very costly for the economy.”