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Last Week’s Highlights

Fed minutes underscore uncertainty in the economy

The Federal Reserve released the meeting minutes from its policy meeting held on April 29th. According to the minutes, the policymakers were uncertain about the economic recovery.

Members discussed alternate scenarios which showed that the uncertainty remains over the medium term. The central bank has unleashed a host of tools. These include cutting interest rates back to zero and relaunching the purchase of treasuries in a bid to combat the downturn due to the Covid-19 pandemic.

US Housing markets fall for the second consecutive month in April

The latest data covering the housing markets did not surprise investors as various indicators plunged during the month. The housing starts report saw a sharp drop in new residential constructions.

Housing starts fell 30% on the month following an 18.6% in March. Meanwhile, sales of existing homes fell to the lowest levels in a decade. Existing home sales fell 17.8% in April...

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