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10/7/2020, 8:06 PM (Source: TeleTrader)
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Financial conditions improving slightly - FOMC minutes

Minutes from the Federal Reserve's Open Market Committee show the participants agreed that the overall financial conditions have improved slightly but that the coronavirus pandemic continues to weigh on economic activity, employment, and inflation in the near term.

Several members stated that while the incoming data indicated that economic activity was recovering faster than expected, their economic outlook assumed additional fiscal support. In addition, participants noted that business investment started to turn around, albeit unevenly across industries. Meanwhile, the fall in unemployment was welcomed despite some concerns that the decline will continue at the same pace.

"Participants continued to see the uncertainty surrounding the economic outlook as very elevated, with the path of the economy highly dependent on the course of the virus; on how individuals, businesses, and public officials responded to it; and on the effectiveness of public health measures to address it," the press release stated.

Breaking the News / MD