The Fed’s April meeting minutes detailed a potential 2nd-wave virus scenario that could drag on the economy into 2021

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Minutes from the Federal Reserve’s April meeting detailed key risks facing the economy as coronavirus lockdowns dragged on. Members of the Federal Open Market Committee found that a “more pessimistic projection was no less plausible” than a base case that featured economic growth re-emerging in the second half of the year. Such a scenario would arrive on the back of a second wave of COVID-19 cases and feature a decrease in GDP, surging unemployment, and weak inflation lasting into 2021, the participants warned. Members also noted the FOMC might need to provide greater detail around its asset purchases, as

Read more    Source: businessinsider.com

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