Economy

Fed officials worried that lack of help from Congress will threaten recovery, minutes show

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Federal Reserve officials worried that a lack of further fiscal stimulus would jeopardize and economy recovery that was moving faster than expected, according to minutes released Wednesday from the central bank’s September meeting.

The Federal Open Market Committee on Wednesday released minutes from its Sept. 15-16 meeting. The Fed’s policymaking arm held interest rates steady at the meeting and approved language outlining its new approach to inflation.

The minutes described the recovery in GDP at that point as being “rapid.”

The meeting featured extensive discussion about the economic outlook, as members said the economy was doing better than expected in good part because of the fiscal…



Source cnbc.com

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