WASHINGTON — The Federal Reserve is meeting on the heels of an undecided presidential election and just before the October jobs report, which analysts expect to paint a complicated picture of an economy that is recovering, but which faces slowing progress and big risks.
Policymakers are likely to adopt a wait-and-see approach at the conclusion of their two-day meeting on Thursday, as they face an uncertain outlook and because they will want to avoid inserting the Fed into the election story line. But they could use the deliberations this week to lay the groundwork for future action.
The economy, which had bounced back swiftly as state and local lockdowns eased this spring, has seen its progress weaken as the pandemic persists and government support for households and businesses expires. Virus cases are surging again, leaving hospitals in some cities overburdened and raising the…
