FederalReserve officials say US economy probably needs more aid
"A number of participants observed that, with some provisions of the CARES Act set to expire shortly against the backdrop of a still-weak labor market, additional fiscal aid would likely be important for supporting vulnerable families, and thus the economy more broadly, in the period ahead," according to the minutes.
FOMC members"generally agreed that prospects for further substantial improvement in the labor market would depend on a broad and sustained reopening of businesses," which would"depend in large part on the efficacy of health measures taken to limit the spread of the virus," the minutes said. In an analysis, Oxford Economics said the minutes"showed just how concerned the Fed was about the economic toll inflicted by the coronavirus pandemic.
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