The U.S. economy is showing signs of a turnaround as businesses reopen, but the pace of the recovery is being slowed by large-scale outbreaks in ...
The U.S. economy is showing signs of a turnaround as businesses reopen, but the pace of the recovery is being slowed by large-scale outbreaks in some states and it could be years before the economy is back at full strength, New York Federal Reserve Bank President John Williams said Tuesday.
Increases in consumer spending and in building permits suggest that economic activity is improving in some areas and that the"low point" of the downturn may have passed, Williams said. Manufacturing activity and small business revenues in hard-hit areas such as New York are picking up, he said.
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