For Fadi Achour, the general manager at Delta Hotels in suburban Detroit, September can’t come soon enough. He is operating with less than half his normal staff. Room service and overnight cleaning has been nixed. The restaurant has limited hours and a bare-bones menu.
The Federal Reserve's balance sheet topped $8 trillion for the first time, weekly data published on Thursday by the U.S. central bank on its holdings showed.
The Federal Reserve kept its policy rate unchanged on Wednesday but sharply ramped up its expectations for economic growth — while affirming that it does not plan to raise interest rates until 2023. The central bank also curiously reworded the public statement accompanying its decision.
