Decision on pause on federal gasoline tax could come at end-week

US President Joe Biden said on Monday that they could decide whether to pause the federal tax by the end of the week, as reported by Reuters.

“I hope I have a decision based on data I am looking for by the end of the week,” Biden told reporters and added that he thought it was very likely for Ukraine to become a member of the European Union.

Market reaction

There was no noticeable market reaction to these comments since US stock and bond markets are closed in observance of the Juneteenth holiday on Monday. Meanwhile, the US Dollar Index was down 0.3% on a daily basis at 104.35.

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