US growth, job gains slowing, Fed reports
The Fed's Beige Book survey of economic conditions finds that the economy is not bouncing back as some expect
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Washington
ECONOMIC growth and job gains continued in most of the United States, but the pace has slowed in many areas while spending remains far below pre-pandemic levels, the Federal Reserve said on Wednesday.
The Fed's Beige Book survey of economic conditions highlighted "rising instances of furloughed workers being laid off permanently as demand remained soft", especially in the hard-hit services industries.
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