Economic recovery outlook remains slow, Federal Reserve says

ERJ staff report (TB)

Washington DC — Despite encouraging signs in some sectors, the Federal Reserve expects the rate of economic recovery to remain slow, according to the minutes of the most recent joint meeting of the Board of Governors of the Federal Reserve and the Federal Open Market Committee.

“Most participants anticipated that substantial slack in labor and product markets, along with well-anchored inflation expectations, would keep inflation subdued in the near term,” said the minutes of the Dec. 15-16 meeting issued Jan. 6. Inventory reduction…

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