» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 44 | NO. 26 | Friday, June 26, 2020

Fed minutes show concerns about severity of downturn

Print | Front Page | Email this story

WASHINGTON (AP) — Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic, saying the drop in economic activity in the spring would likely be the steepest in the post-World War II period.

The minutes of the June 9-10 discussions, which were made public Wednesday, show officials grappling with economic disruptions that had already occurred and noting the crisis was "not falling equally on all Americans."

The minutes say that Fed officials discussed how the sharp rise in joblessness had been especially severe for lower-wage workers, women, African Americans, and Hispanics.

The Fed's policy-making committee voted 10-0 at the June meeting to keep central bank's benchmark interest rate at a record low near zero and officials expected that it would remain at that ultra-low level through 2022.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0