Little suspense as Fed meets with US economy in crisis

Washington (AFP) – The Federal Reserve already cut its benchmark lending rate to zero and made unprecedented moves to bolster liquidity as the coronavirus slammed the US economy, so it is not expected to do much besides project confidence at its policy meeting this week.Held by video conference, the gathering will lack much of the suspense of previous meetings, with analysts most interested in what the Fed and its chair Jerome Powell have to say about the future of the world’s largest economy.”He’s going to basically say ‘we know what we’re doing,'” economist Joel Naroff said of Powell. “That …

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