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The Federal Reserve released the minutes of its April meeting on Wednesday, noting that the virus pandemic will pose a serious threat to the economy, as well as damage to financial stability, and will use all tools to support the economy.
According to the minutes of the Federal Open Market Committee (FOMC) meeting in April, members agreed that the economic impact of the virus pandemic caused great uncertainty in the medium term and brought great risks to economic activities. Participants discussed the potential risks of financial stability and expressed concern that banks might be under greater pressure in the future. The Fed said it would use all tools to support the US economy.
FOMC members become more pessimistic about the prospect of potential risks
The minutes of the meeting highlighted the threat of the outbreak to the medium-term economic outlook of the United States. At its best, the Commission expects the U.S. economy to recover slightly from the second half of this year.
According to the minutes of the meeting, members expressed concern that the economic recovery may trigger a second wave of outbreak: a new round of social isolation and business activities may start at the end of this year, whether it will lead to the decline of next year's real GDP, the rise of unemployment rate and the downward pressure on inflation level.

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