US Lawmakers Reach Agreement on Stimulus Bill, Vote Could Come Tonight, McConnell Says: CNBC

Senate Majority Leader Mitch McConnell said Congress reached an agreement on Sunday on a $ 900 billion pandemic relief package, CNBC reported.
A vote could take place on Sunday evening.
Although the bill has not been made public, the pact is expected to provide $ 300 a week for improved federal unemployment benefits, a check for $ 600 for many Americans, and aid to schools, vaccine distribution and small businesses, the said WSJ the previous Sunday.
Good news for those who welcome the Fed's free printing was a move by some GOP senators to check the central bank with the bill, only partially successful, the WSJ reported.
As part of a pact signed on Saturday night, the Fed would retain its powers to set up emergency loan programs without first obtaining congressional approval, the WSJ reported, citing aides familiar with the legislation.
The negotiators agreed that without prior approval, the central bank cannot replicate programs identical to those it launched at the start of the pandemic. The Fed's ability to initiate various programs would not be affected, the sources told the WSJ.
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Since the stimulus package would boost stock markets, it could also raise the price of cryptocurrencies, especially if recipients of stimulus checks use that money to buy cryptocurrencies.
Crypto investors have been betting all year long that the spate of government and central bank spending to combat the coronavirus-induced economic slowdown will ultimately lead to inflation that would also benefit Bitcoin.
All of the incentives call into question the independence of the Federal Reserve, which has basically printed money with devotion to prevent short-term economic ruin and faces criticism of the mountain of debt that these expenditures create.
UPDATED 12/20/20 at UTC 11:11 AM Adds that an agreement has been reached.
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US lawmakers reach agreement on Stimulus Bill, vote could come tonight, McConnell says: CNBC
US lawmakers reach agreement on Stimulus Bill, vote could come tonight, McConnell says: CNBC
US lawmakers reach agreement on Stimulus Bill, vote could come tonight, McConnell says: CNBC
US lawmakers reach agreement on Stimulus Bill, vote could come tonight, McConnell says: CNBC
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