House Speaker Nancy Pelosi (D-Calif.) on Saturday night said the White House has 48 hours to come up with a stimulus counter-offer acceptable to Democrats or else there would be no bill until after Election Day, meaning that a deal must be reached by tonight, said CNBC. While the two parties have inched closer to an agreement over the past two weeks, it appears they remain at an impasse on three issues: testing and tracing, aid to state and local governments, and liability protections for businesses.

Bloomberg said that Treasury Secretary Steve Mnuchin, who has been the White House's chief negotiator on the matter, plans to speak with Pelosi this afternoon in a last attempt to seal some sort of deal. He said he remains open to negotiations.

As the country awaits news of new pandemic aid, MarketWatch said that jobless Americans have now burned through two-thirds of the savings they'd been able to accumulate as a result of the extra $600 in weekly unemployment benefits they received under the CARES Act. This conclusion was reached after examining 80,000 families’ checking accounts and the credit-card data of people who received unemployment benefits in July and August. The study's authors, the University of Chicago and the JPMorgan Chase Institute, warned that without another aid package, aggregate spending could drop in a way that threatens the economic recovery.