Coronavirus uncertainty causes 'major downside risks': FederalReserve minutes
But at the time of that emergency meeting - the second unscheduled meeting last month, which was held on a Sunday - officials said,"The unpredictable effects of the coronavirus outbreak were a source of major downside risks to the economic outlook."
Since then, Congress has approved three support packages, including a massive US$2.2 trillion rescue measure that puts money into unemployment insurance and emergency lending for small businesses to pay workers. Some officials viewed the pandemic as"not directly comparable with the previous decade's financial crisis and it need not be followed by negative effects on economic activity as long-lasting as those associated with that crisis."
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