WASHINGTON - The Federal Reserve's policy-setting committee will meet on Tuesday amid a prolonged deadlock in Congress over how to support the US economy battered by the coronavirus downturn.
Rather, officials will perhaps offer details on their new inflation targeting strategy while underscoring that, despite some positive economic signs, unpredictability reigns. Steve Englander, managing director at Standard Chartered Bank, told AFP he expects the meeting to focus on that new strategy, while making clear the Fed's easy money policies aren't going away anytime soon.
The latest August data put unemployment at 8.4 per cent, which Mr Powell told National Public Radio indicated"significant improvement", though he said he also feared for people who were already earning low wages, and for whom the coronavirus has made life even more tenuous.
Source: Financial Digest (financialdigest.net)
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