US Economic Outlook

"There is a growing risk that US policymakers will not consolidate public finances sufficiently to stabilize public debt after the pandemic has passed," said the statement

The Labor Department's report Thursday marked the 19th straight week that more than 1 million people have applied for unemployment benefits

And the report said that business contacts in the Fed's 12 regions remained wary about the future

Ten respondents said the Fed's projections were "too pessimistic" and only five said "too optimistic

Business, finance, and technology will be more exposed, along with natural resource and production industries

Boosted in part by a $1.5 trillion tax cut package passed late last year, the US economy expanded at an annualised rate of 4.1 per cent in the April-June quarter

With the US economic outlook "definitely looking good," the US central bank is on the cusp of deciding whether to raise rates at any of its next few meetings, San Francisco Federal Reserve Bank President John Williams said."I view the balancing act as very similar to the balancing act that kind of led to the first rate increase.... We have to be making the decision. Do we want to wait a little longer or act now?" Williams told reporters after a speech at the Sacramento Economic Forum.Two to three rate increases this year "definitely still makes sense," he said.The Fed raised rates in December for the first time in nearly a decade, but has kept them on hold since then largely because of worries over a slowdown in China and Europe.Williams, a centrist whose views are generally in line with those of Fed Chair Janet Yellen, said he has not yet conferred with his staff economists over whether the next rate increase would be best made in June, July or September.