Federal Reserve likely to lay low this week

Cautious approach: The Federal Reserve Board building in Washington, DC. The US central bank’s policy-setting Federal Open Market Committee is expected to stick closely to its last statement and repeat its pledge to do whatever it can to help the economy through the coronavirus-triggered recession. — AFP

WASHINGTON: The Federal Reserve (Fed) was scheduled to release its latest policy statement soon after two days of debate in which policymakers lacked a critical piece of information: who will run the United States for the next four years.

With the final result of Tuesday’s presidential election still uncertain, the US central bank’s policy-setting Federal Open Market Committee is expected to stick closely to its last statement and repeat its pledge to do whatever it can to help the economy through the coronavirus-triggered recession.