The central bank already made clear it expects a full economic healing from the impact of the virus to take years as it kept interest rate near zero at its policy meeting last week.
But nascent signs of recovery in US economic data, with better-than-expected job gains and retail sales for the month of May, had fueled some hopes that the US could bounce back more quickly.
Fed officials pushed back on that view on Friday and cautioned against reopening the economy too hastily after the end of state lockdowns aimed at containing the virus, which has killed more than 118,000 Americans.
California, North Carolina and a string of US cities mandated or urged mandatory use of masks on Thursday to get a grip on spiraling coronavirus cases as at least six states set daily records.
This story is from the June 22, 2020 edition of The Philippine Star.
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This story is from the June 22, 2020 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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Just and lasting peace
ROSES & THORNS
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