A second wave of virus outbreaks and measures introduced to control the spread meant economic recovery would be slower than the Federal Reserve had originally expected 🔒
Last week I watched Federal Reserve chair Jay Powell deliver his customary statement at the conclusion of the July federal open market committee meeting.
His tone was solemn and troubled. He pledged to do whatever was necessary to bridge the US economy over the crisis, brought about by the spread of Covid-19, and ensure there was still enough stimulus to accelerate and extend growth when business activity returned to normal.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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