McConnell said in recent trade that he hopes to reach a deal on unemployment by this Friday

A key federal programme for the millions of Americans rendered jobless by the coronavirus pandemic expires on Friday.

However, that has not stopped Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell ratcheting up their combative rhetoric today.

Both leaders appear to be as far apart as ever from a deal to stimulate the economy.

Republicans have offered $1trn in assistance on top of the $2.7trn Congress authorised over four separate deals this spring.

Democrats want something in the neighbourhood of $4trn.

Nevertheless, Senate Majority Leader Mitch McConnell said in recent trade that he hopes to reach a deal on unemployment by this Friday.

The lack of progress in the current US fiscal negotiations continues, with President Trump calling on Republicans who oppose further spending to “go back to school and learn”, will likely continue to weigh on sentiment into the end of the month at this rate.