Fed to Debate Dimming Outlook as Virus Surges, Fiscal Help Hangs

From bnnbloomberg.ca

For Federal Reserve officials, as for many others, it’s been a long six weeks. Setbacks in the fight against the coronavirus will push Fed Chair Jerome Powell to reinforce his dovish message this week that interest rates will stay near zero for a long while. That said, policy makers probably won’t adopt a shift in strategy at their July 28-29 meeting, even as they review how the outlook has changed. When the U.S. central bank’s top policy-making body last met in early June, the country’s daily count of new coronavirus cases had stabilized, with states like New York and New Jersey logging declines and others ... (full story)