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Fed reports slowing US economic activity due to virus surge - Black News Channel

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By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — A Federal Reserve survey of business conditions around the country found that economic activity in several regions slowed in November as coronavirus cases surged. The Fed report released Wednesday said that overall, the Fed's 12 regional banks characterized the economic expansion as 'modest or moderate.' But it noted that three Midwest regions and the Philadelphia region reported activity had begun to cool in early November as COVID-19 cases surged. The report said that most districts found that local businesses' optimism has 'waned,' with many citing concerns about the wave of virus […]

The post Fed reports slowing US economic activity due to virus surge appeared first on Black News Channel.

Source: Black News Channel - Black News Channel
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