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US Businesses Optimistic About Economy Due To Vaccines And Hiring, Says Fed Beige Book

“Most businesses remain bullish for the next 6 to 12 months,” the Fed’s Beige Book states. The Federal Reserve building is seen in Washington in November 2020.


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J. Scott Applewhite / Associated Press

Most companies are optimistic about the economic recovery this year as coronavirus vaccines are more widely distributed and hiring has slowly increased across the country, a Federal Reserve report said on Wednesday.

The Fed’s periodic compilation of anecdotes from business contacts, known as the Beige Book, said the U.S. economy continued to grow modestly in the first weeks of 2021, although some industries, such as entertainment and the hotel industry, continued “ to be restricted by ongoing Covid. -19 restrictions. “

“Economic activity increased modestly from January to mid-February,” the report said, adding that “most companies remain optimistic about the next 6 to 12 months.”

The Fed said the economy has grown in most parts of the country except the northeast, where New York’s economy shrank slightly and the Boston area recorded mixed results.

(More soon)

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