The U.S. economy grew more slowly in August as anxiety over the coronvirus, the end of federal benefits and an increase in permanent job losses hindered the recovery, the Federal Reserve said Wednesday.
Read: Economy softened in August as some temporary layoffs turn permanent
Here’s some of the more noteworthy takeaways from the Fed report:
• Boston: “Business contacts continued to cite the disruptive effects of the pandemic on all aspects of their activity, even as recovery began or continued in some sectors,” the Boston Federal Reserve said.
The Boston Fed is one of 12 regional Fed banks scattered around the country. The information collected by the banks from businesses in their districts form the basis of the Beige Book’s