Apple CEO Tim Cook weighs in on COVID-19 stimulus package stall
Mnuchin and Pelosi trade barbs over stimulus stall
Apple CEO Tim Cook urging lawmakers, who are at an impasse, to get a stimulus deal done.
“You know I continue to be optimistic. I do think that a stimulus package is needed and I would encourage everyone to work together on that” he said following the company’s quarterly earnings report in which the world's most valuable company earned $64.7 billion in revenue.
APPLE SAYS IPHONE 12 'OFF TO A GREAT START' AS EARNINGS TOP EXPECTATIONS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 228.52 | -0.48 | -0.21% |
Cook's comments come as tensions escalate between U.S. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi.
Late Thursday Mnuchin slammed Pelosi in a tweet for sharing a letter she sent to him with the press at the same time.
“I woke up this and read @SpeakerPelosi’s letter to me in the press. Enclosed is my response. Her ALL OR NONE approach is hurting hard-working Americans who need help NOW!, he said.
Pelosi, in her letter, accused the Trump administration of holding back on key items while attempting to negotiate a COVID-19 relief package, including unemployment insurance and tax credits for working families, among other items.
US ECONOMIC GROWTH SHATTERS RECORD AT 33.1%, BUT FAILS TO SNAP CORONAVIRUS RECESSION
Later, during her weekly press briefing, she said of the stimulus asks, "They will only go so far and we’re asking them to go farther."
READ HERE: PELOSI'S LETTER TO MNUCHIN
READ HERE: MNUCHIN'S LETTER TO PELOSI
In his own letter Mnuchin fired back, "While you accuse the Administration for holding up the negotiations, you refuse to bring to the floor of the House stand-alone legislation to support Airline workers, additional Paycheck Protection Program payments to small businesses, and additional Direct Payments that we can fund by using already approved money that we have not spent. Your ALL OR NONE approach is hurting hard-working Americans who need help NOW."
FOX Business' Susan Li contributed to this report.