from Zero Hedge
Wall Street – which is now certain that the Democratic sweep will lead to trillions in new stimulus (Goldman yesterday revised its outlook to expect as much as $750BN in fresh stimulus as soon as next month) – may have to put the champagne on ice indefinitely because as the WaPo reports, Biden’s plans for a major new economic relief package boosting stimulus payments to $2,000 have run “into possibly fatal opposition from his own party Friday as Sen. Joe Manchin III (D-W.Va.) said he would “absolutely not” support a new round of checks.”
Manchin, who as the WaPo describes as “a moderate who will hold great sway in a Senate split 50-50 between Democrats and Republicans” made his views known even as the Biden team worked to develop a coronavirus relief package that would include new stimulus checks, extended unemployment benefits, and much more. The only problem: Biden did not expect one of his own to turn against him in what appears to be a reversal of the blue wave.