August 19, 2020

Fed officials say US economy probably needs more aid

Washington (AFP) – Federal Reserve bankers feared the US economy would need more aid to weather the coronavirus downturn as previsions of a key spending measure expired, according to meeting minutes released Wednesday.The rate-setting Federal Open Market Committee (FOMC) held a regularly scheduled meeting in July as the coronavirus pandemic caused one of the sharpest economic downturns the United States has seen in recent history, with tens of millions of people losing their jobs since mid-March.Around the same time, Congress authorized the $2.2 trillion CARES Act spending measure that include…


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