Biden has tough path to navigate to achieve further stimulus

Biden has tough path to navigate to achieve further stimulus

Obtaining a new fiscal deal will test president-elect’s ability to forge compromises on Capitol Hill

Joe Biden wants Congress to rapidly reach a deal on new fiscal stimulus, in an attempt to boost the US recovery before he takes office in January.

The US president-elect’s platform in the election against Donald Trump included a variety of measures to deliver near-term support to the world’s largest economy, such as aid to state and local governments and enhanced unemployment benefits.

The urgency of that aid has increased in recent weeks as coronavirus cases have risen sharply and some local authorities have started to tighten health restrictions.

Even though the US unemployment rate continued its fall to hit 6.9 per cent in October, the pace of jobs growth has slowed. That has led some economists to warn it would be risky for to wait for Mr Biden to enter the White House to enact stimulus legislation.