Fed officials cited risks if Congress fails to pass more aid

WASHINGTON (AP) — Federal Reserve officials expressed concern at their most-recent meeting that the U.S. economy recovery could falter if Congress failed to approve another round of pandemic relief.

The Fed on Wednesday released minutes of its most recent meeting, showing that officials believed the economy was growing faster than expected. But they based their forecasts on expectations that Democrats and Republicans would resolve their differences and provide further economic aid, including expanded unemployment benefits and help for small businesses.

The prospects for approval of a new package being passed before the Nov. 3 elections have significantly diminished with President Donald Trump’s decision to cut off negotiations with Democrats.

Categories: Coronavirus, National News