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The Finance 202: The Fed has bracing news for anyone expecting a sharp economic rebound

The Finance 202: The Fed has bracing news for anyone expecting a sharp economic rebound
Thursday 28
20:13 2020

with Brent D. Griffiths The Federal Reserve just tossed a glass of cold water in the face of anyone predicting a swift economic recovery. The ongoing crisis brought on by the pandemic shutdowns has caused “steep" job losses, with activity “falling sharply” across the map, the central bank’s latest survey of economic conditions on the ground finds. And business owners report their outlook for the recovery remains “highly uncertain” and most are pessimistic about the trajectory of the rebound, according to the Fed’s new beige book, which collects anecdotal information from a wide swath of business owners around the country. ...

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Washington Post : The Finance 202: The Fed has bracing news for anyone expecting a sharp economic rebound

Summary: The central bank’s latest survey of conditions on the ground suggests a long slog ahead.

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