Officials are likely to continue their debate Wednesday about how to provide more support to the economy now that interest rates are pinned near zero, but are unlikely to announce major policy changes.
The federal government’s disaster loan and grant program for small businesses has been subject to more than 5,000 complaints of suspected fraud from lenders, a watchdog agency warned Tuesday as it called for closer oversight of the program.
New orders for durable goods rose 7.3% in June as the U.S. economy continued its climb back from disruptions related to the coronavirus pandemic, though a summer surge in virus infections could damp future gains.
The Federal Reserve’s asset buying is taking a break, with analysts lowering their estimates of further growth to reflect less demand for emergency credit and because the newest lending programs are proving more difficult or costly to use.
The U.S. economy lagged in July and Europe’s bounced back, according to fresh surveys of purchasing managers, evidence that the two economic powerhouses are recovering at different speeds from the coronavirus pandemic.