A big sigh of relief for 14 million American’s as President Trump signs the relief bill

Finally, a sigh of relief for 14 million unemployed Americans during the holiday season as President Donald Trump has marked a $900 billion covid-19 relief package. According to Reuter's sources following his signatures, the global stock market soared up on Monday. 

Japan's Nikkei crawled up 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan soared 0.2%, however, trade is slow as many markets are shut due to the holiday season.

"It is a positive sign for markets that there is no confusion over the stimulus package, considering there was a fractional possibility of a government closure," stated Masahiro Ichikawa, chief economic strategists at Sumitomo Mitsui DS Asset Management. 

In front of the developing monetary crisis and the spreading of the coronavirus, legislators had asked Trump on Sunday to sign the bill immediately. Besides relief and unemployment benefits to families, cash for public transit systems, vaccination, uplifting businesses are on the line.

Donald Trump in a statement rehashed his dissatisfaction with the coronavirus relief bill for giving just $600 checks to most Americans rather than the $2,000 which the Republicans earlier dismissed. He likewise complained about what he considered superfluous spending by the government. 

The deferral in signing the relief package bill caused a lapse in helping millions of Americans to make ends meet during the pandemic and festive season as well. 

However, on Sunday night Trump stated that he has signed the bill, saying it was his duty to protect the citizens of his nation from the financial crisis and difficulty" brought about by a Covid-19. 

"As president, I have urged Congress that I need far less reckless spending and more cash going in the hand of Americans in form of $2,000 checks per adult and $600 per kid. 

House Speaker Nancy Pelosi, D-Calif., welcomed the signing of the bill and the news for the fourteen million Americans who just missed unemployment benefits on Christmas weekend, and for many who were financially struggling due to the aftermath of the pandemic." 

However, Sen. Bernie Sanders, I-Vt., criticized Trump by saying "what the president is doing is very cruel, so many individuals are hurt. ... It is crazy and this president must at last ... make the best decision for the American public and quit fanning his own ego. 

Lawmakers presently have space to discuss whether the relief package should be as extensive as the president has demanded or stay the same. 

The Democratic-led House bolsters the higher checks and is preparing to vote on the matter on Mon, however, it's expected to be overlooked by the Republican-held Senate where spending encounters opposition. Until then, the government can continue with the $600 relief payments. 

The enormous bill incorporates $1.4 trillion to fund government organizations through September and consists of other expenditures till the end of the session.