July 26, 2020

Federal Reserve convenes as virus puts US recovery on edge

Washington (AFP) – The Federal Reserve meets next week amid mixed signals on the health of the US economy, with some sectors bouncing back from the coronavirus-caused downturn and others struggling.Retail and new home sales were among those showing growth over the last two months but the Labor Department said last week new claims for unemployment benefits had increased week-on-week after months of declines.Analysts say the mixed indicators won’t be enough to get the rate-setting Federal Open Market Committee (FOMC) to change course, particularly not after it cut the benchmark lending rate to 0…

source https://this.kiji.is/en/659960750676968545?c=648607265489716321

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