WASHINGTON: A"moderately" expanding US economy was slowed last year by a manufacturing slump and weak global growth, but key risks have receded and the likelihood of recession has declined, the US Federal Reserve said in its latest monetary policy report to the US Congress.
Concerns about the virus and the possible disruption to Chinese economic growth as a result of it sent stock markets lower on Friday, despite a strong US jobs report showing the economy added 225,000 jobs in January. It also reviewed the spike in the federal funds rate last fall and the steps the Fed has taken to relieve funding pressures, repeating it considers the measures technical and not a change in monetary policy.
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