Monetary policy

Federal Reserve Bank of Minneapolis President Neel Kashkari isn’t attending the central bank’s two-day policy meeting after the birth of his second child this week.

No one expects any change to the fed funds rate target when the Federal Open Market Committee meets on Wednesday and Thursday, but that doesn’t mean there’s nothing to watch for.

The U.S. economy faces “slow going” with no additional fiscal support likely for several months, said former New York Fed President William Dudley.

With the economy offering positive and negative signs, economists have differing views on the recovery.

Uncertainty has been the code word since March — about the length of the pandemic, about the election, and many other issues. The markets hate uncertainty.

Fed finds most areas improving, with different sectors showing greta variation in activity.

Despite "robust" progress, it will take "some time" for the economy to return to pre-pandemic levels, according to Fed Vice Chair Richard Clarida.

Federal Reserve Bank of Richmond President Thomas Barkin said a rebound in U.S. coronavirus cases to about 50,000 a day has added uncertainty to the outlook and may discourage businesses from hiring or investing.

Although progress has been made, a full economic rebound from the COVID-19 pandemic won't come soon, Federal Reserve Vice Chair Richard Clarida said.

Recovery will be more difficult because rates were low before the pandemic, Federal Reserve Bank of Boston President Eric Rosengren said.