Most Businesses Pessimistic About Speed Of Economic Recovery, Fed Reports

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The Fed’s most recent report about the state of the economy indicated that even though all 50 states are beginning to take their first steps toward reopening, most businesses are still pessimistic about the pace of economic recovery by theothersarahh

survey of economists, local business contacts and other experts—indicated that even though all 50 states are beginning to take their first steps toward reopening, most businesses are still pessimistic about the pace of economic recovery. KEY FACTSThe central bank reported that health concerns among workers, limited childcare options and expanded unemployment benefits during the pandemic have made it more difficult to bring employees back to work.

The Fed also noted that while consumer spending has fallen across the board, the worst declines have come in the leisure and hospitality sectors. Manufacturing and construction activity fell, home sales plummeted, retail tenants missed their commercial rent payments, and agricultural conditions worsened, too. . That’s how many Americans have filed for temporary unemployment benefits over the last nine weeks.

 

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theothersarahh Of course, especially USA is fighting with China.

theothersarahh But somehow the market is climbing 🤔. We are going to have to start fact checking the fact checkers.

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