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The Federal Reserve will adjust a key element of its monetary-easing strategy next month to better bolster the economy through its latest virus wave, JPMorgan said Monday.
The central bank has kept its policy stance intact for months after taking unprecedented steps to support the US recovery earlier in the year. The Federal Open Market Committee’s last meeting ended with policymakers keeping rates near zero and maintaining the same pace of asset purchases. Yet the weeks since have seen daily new COVID-19 cases hit multiple record highs and cities impose fresh restrictions.
With the virus’s resurgence details ⇒
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