The U.S. economy, battered by a resurgence in the spread of COVID-19, needs increased government spending to tide over households and businesses and broader use of masks to better control the virus, U.S. central bankers said on Monday. | Video
WASHINGTON U.S. businesses saw an uptick in activity into the beginning of July as states eased restrictions to contain the novel coronavirus pandemic, a Federal Reserve report showed on Wednesday, but remained uncertain about the economic outlook amid a recent surge in cases in many parts of the country.
WASHINGTON The U.S. economy will recover more slowly than expected amid a surge in novel coronavirus cases across the country, and a broad second wave of the disease could cause economic pain to deepen again, Federal Reserve officials warned on Tuesday.
WASHINGTON There is a great deal of uncertainty about the path ahead for the U.S. economy and the Federal Reserve should use forward guidance and large-scale asset purchases for a "sustained" period in order to help the recovery, Fed Governor Lael Brainard said on Tuesday, as she offered a downbeat assessment of the risks ahead.
A surge in coronavirus cases that threatens to pinch consumer spending and job gains just as some stimulus programs are due to expire has Federal Reserve policymakers worried, with at least one pledging more support ahead from the U.S. central bank.
WASHINGTON Federal Reserve policymakers are looking at reviving a Great Recession-era promise to keep interest rates low until certain conditions are met, in a bid to deliver a more rapid recovery from the recession triggered by the coronavirus pandemic.
The U.S. Federal Reserve on Wednesday released thousands of letters and emails from individuals, businesses and nonprofit groups this spring urging wider access to its Main Street Lending Program for Americans slammed financially during the pandemic.
WASHINGTON Up to $140 billion in loans for small business could be refocused to support restaurants, hotels and other industries hit hardest by the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin said on Tuesday.