The Senate has adjourned until 3pm on Monday, as Congress failed to reach an agreement on extending extra unemployment benefits that are set to expire on Friday.
Why it matters: Tens of millions of Americans are out of work and have been receiving $600 per week on top of their regular unemployment payments. That money has been used both to pay expenses and to prop up the broader economy via consumer spending.
The state of play: Congress and the Trump administration are still painfully deadlocked over the next stimulus bill, with at least 20 Senate Republicans pledging to vote “no” on another massive relief package no matter what. Continue reading.