Markets Await Financial Sector Bailout Plan Announcement
Today, Washington will deliver some movement on two big issues key to the economy: the stimulus bill and the federal bailout of the financial sector. With the Senate having passed a procedural vote that pushes the measure forward for a vote today, all eyes will be on the outcome of the $800 billion stimulus bill vote. Lawmakers face an uphill battle to work out their differences between the House and Senate version by the end of the week, even with the public push last night by President Barack Obama in a televised news conference.
As the president mentioned last night, Treasury Secretary Timothy Geithner plans a big announcement this morning at his own press conference, scheduled for 11 a.m. Geithner is expected to announce essentially an overhaul of the federal bailout program. Geithner also plans to appear on Capitol Hill later in the day to sell his plan at a hearing.
Both events are expected to move the markets today and some analysts are predicting a Wall Street rally.
Check back here for live updates throughout the day.
February 10, 2009; 7:00 AM ET
Categories: The Ticker
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