WASHINGTON: Federal Reserve officials saw"little or no growth" in four of their 12 regional districts and only modest growth in the others in recent weeks as a rapidly spreading health crisis and ongoing recession continued to devastate some US businesses and families even as many others thrive.
Meanwhile, the pandemic is spreading at a rate of a million new cases a week and around 1,500 deaths a day. The possibility of growing loan bank stress added a newly worrisome note: The comparative lack of loan defaults so far has prevented the recession from spawning a separate financial crisis. The regional bank also said office tenants nearing the end of leases were renewing only for the short term and that some respondents noted an increase in available subleased space, signalling more trouble ahead in the sector.LABOUR MARKET WORRIES
In Boston,"a supplier to commercial aviation announced major layoffs over the summer and has not had any reason to revise those plans either up or down," local Fed officials noted.
Who cares? As long as they can continued to print trillions at the push of a button...the rest of the world will also follow suit...😷
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