CNBC Washington correspondent, Eamon Javers, tweets
The tweet thread reads:
1. With markets in turmoil this morning, where are we on virus stimulus? I’ve spoken to two senior admin officials today who say the WH is working on various ideas. But it doesn’t seem to have gone much further than the brainstorming stage.
2. A senior administration official tells me this morning virus ideas were kicked around at the WH over the weekend. But he cautions that there’s nothing on paper and it is still a long way off. “Under pressure, will they want to say they have a plan? Yes. Do they? Not really.”
It is going to take a while before this even turns into anything concrete it seems. Trump’s election bid may be hanging in the balance here and for now, the best he can do is still to play the Fed card I reckon.
This is hardly confidence inspiring if you’re an investor and looking at the market now.