Fed to meet as Congressional deadlock stretches onward

Washington (AFP) – The Federal Reserve’s policy-setting committee will meet on Tuesday amid a prolonged deadlock in Congress over how to support the US economy battered by the coronavirus downturn.The central bank deployed its most potent tools including trillions of dollars in liquidity lines and an emergency rate cut to near-zero in the pandemic’s opening days, but the new fiscal support Fed Chair Jerome Powell and other officials have said the economy demands has yet to be approved by Congress.The Fed is however loathe to wade directly into political debates and economists don’t expect that…

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HEDGE accordingly