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29 July 2020 FOMC Meeting Minutes: Economic Outlook Continues To Be Dependent On the Course Of the Pandemic

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– this post authored by Steven Hansen

The 29 June 2020 meeting statement presented the actions taken. This post covers the economic discussion during this FOMC meeting between the members. An interesting quote regarding the economy:

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. Several risks to the outlook were noted, including the possibility that additional waves of virus outbreaks could result in extended economic disruptions and a protracted period of reduced economic activity … Other risks cited included the possibility that fiscal support for households, businesses, and state and local governments might not provide sufficient relief of financial strains … potential longer-run effects of the pandemic associated with possible restructuring in some sectors of the economy that could slow the growth of the economy’s productive capacity for some time.

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Source: http://econintersect.com/pages/releases/release.php?post=202008191322


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