Powell and Mnuchin voice optimism but back more economic aid
Both officials stressed that major sectors of the economy are still suffering
- September 22, 2020 September 22, 2020
- 14:03
Both officials stressed that major sectors of the economy are still suffering
This followed larger gains in June and July of 0.6%
Spending rose by 1.9% for the month
The central bank announced a significant change in how it will manage interest rates
The June increase in consumer spending coincided with a 1.1% drop in personal incomes, however
The decline in GDP in Q2 marked the sharpest such drop on record
Reading was worse than expected, but above April's
Consumer prices rose by 0.6% thanks to surging gas prices
The rule restricted banks from investing in hedge funds and private equity funds
Worse economic news is likely on the way