Confucius: the man who broke the mountain was the same man who started ...
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Fed Minutes Note Consumer Spending Rebound, Business Uncertainty
U.S. central bankers noted the rebound in consumer spending at their last meeting but repeated their view that the path of the recovery would depend on containment of the virus. “Members agreed that the ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the near term and was posing considerable risks to the economic outlook over the medium term.” according to minutes published Wednesday of the Federal Open Market Committee’s July 28-29 meeting, conducted via video conference. “Participants saw less improvement in the business sector in recent months, and they ... (full story)