WASHINGTON (AP) — Federal Reserve officials expressed concern at their most-recent meeting that the U.S. economy recovery could falter if Congress failed to …
WASHINGTON (AP) — Federal Reserve officials expressed concern at their most-recent meeting that the U.S. economy recovery could falter if Congress failed to approve another round of pandemic relief. The Fed on Wednesday released minutes of its most recent meeting, showing that officials believed the economy was growing faster than expected. But they based their forecasts of a further steady recovery on expectations that Democrats and Republicans would resolve their differences and provide further economic aid, including expanded unemployment benefits and help for small businesses. The minutes said that “most forecasters were assuming that an additional pandemic-related fiscal package would be approved this year, and noted that, absent a new package, growth could decelerate at a faster-than-expected pace in the fourth quarter.” Economists noted the minutes delivered a dual message of satisfaction that so far the recovery is progressing better than expected but also continued concerns that the outlook could quickly darken without further government support.
