As economic growth continues to move at a slow pace, some Federal Reserve (Fed) officials are publicly calling for Congress to pass measures that would increase spending on several COVID-related relief programs. Officials fear that the two million Americans who have permanently lost their jobs will cause other vulnerable businesses to close down for good. Fed officials believe that increasing spending would be effective considering an injection of money would stimulate certain sectors of the economy that were shut down for noneconomic reasons. However, some officials disagree with this approach preferring to know more about how the economic recovery is unfolding before making a decision.

Click here to read more.