Since the Fed’s meeting, negotiations on another government relief package has collapsed and there is little sign that serious talks will resume. The nascent economic recovery faces several risks, Fed officials said in discussions during their most recent meeting on July 28-29. Fed officials said in the minutes that the rebound in consumer spending had been “particularly strong,” in part because of the income support provided by Congress. Minutes of each Fed meeting are released after a three-week lag. That review is likely to conclude with the adoption of a new approach to the Fed’s inflation target, economists say.

Source: The Standard August 20, 2020 04:30 UTC