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Fed wrestles with its next moves as virus stalls US economy - Black News Channel

  • Jul 29, 2020
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By Christopher Rugaber AP Economics Writer WASHINGTON (AP) — Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday after its two-day policy meeting ends and just before Chair Jerome Powell holds a news conference. But the central bank is working toward providing more specific guidance on the conditions it would need to see before considering raising its benchmark short-term interest rate, which is now pegged near zero. […]

The post Fed wrestles with its next moves as virus stalls US economy appeared first on Black News Channel.

Source: Black News Channel - Black News Channel
This Black Fact was brought to you by National Association of Asian American Professionals (NAAP) Boston Chapter

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