US Federal Reserve Officials Highlight Need for Additional Aid
Originally published on August 25, 2020 y NAIOP E-Newsletter
U.S. Federal Reserve officials last month agreed on the need for additional government action to support the economy, according to minutes from the July 28 meeting released last Wednesday. The comments come amid a Congressional stalemate over the size and scope of the next coronavirus relief bill.
A key quote from the minutes reads as follows: “Participants observed that uncertainty surrounding the economic outlook remained very elevated, with the path of the economy highly dependent on the course of the virus and the public sector’s response to it … A number of participants observed that, with some provisions of the CARES Act set to expire shortly against the backdrop of a still-weak labor market, additional fiscal aid would likely be important for supporting vulnerable families, and thus the economy more broadly, in the period ahead.”