1/13, 8:03 PM (Source: TeleTrader)
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Fed: Business optimism reduced by virus resurgence

Business optimism for 2021 has been reduced by the recent resurgence of the coronavirus in the United States and "the implications for near-term business conditions," according to the Federal Reserve's so-called Beige Book released on Wednesday.

Meanwhile, most Fed Districts reported that economic activity increased modestly since the previous Beige Book period. Two reported little or no change in activity, while two others noted a decline in activity.

"A majority of Districts reported that employment rose, although the pace was slow, and the recovery remained incomplete. However, a growing number of Districts reported a drop in employment levels relative to the previous reporting period," the Fed said.

Breaking the News / JC