September 1, 2020

US government aid ‘essential’ to weather downturn: Fed official

Washington (AFP) – Government spending will be “essential” to help struggling Americans weather the downturn caused by the coronavirus pandemic, Federal Reserve Governor Lael Brainard said Tuesday.With the White House and Congress still at an impasse over a new emergency relief package, Brainard warned that “the economy continues to face considerable uncertainty associated with the vagaries of the COVID-19 pandemic” and business shutdowns risk becoming permanent.Amid the uncertainty, “fiscal support will remain essential to sustaining many families and businesses” and in fact that support is “…


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