July 29, 2020

As lawmakers spar, Federal Reserve aims to buoy economy

Washington (AFP) – Facing the second recession in just over a decade and with Congress locked in debate over a new emergency spending package, the Federal Reserve will seek a way to put some guardrails on the US economy.With the COVID-19 case count resurging and the death toll approaching 150,000, economists are projecting a shocking 35 percent collapse of American GDP in the April-June quarter.As hopes dim that businesses can reopen and allow life to return to normal with the virus still rife, fears are mounting of a lasting recession, which would jeopardize the rebound in employment in the p…

source https://this.kiji.is/en/661021518672430177?c=648607265489716321

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