Fed warns U.S. economic recovery is weakening

The Federal Reserve on Wednesday took on a gloomy tone In terms of the U.S. economy, the recovery is weakening as the country awaits widespread vaccination against the coronavirus.

“The pace of recovery in economic activity and employment has slowed in recent months, with weakness focusing on the sectors hardest hit by the pandemic,” the Fed’s rate setting committee said in its statement after the meeting. This is in contrast to his observation last month that the economy “continued to recover”.

Economic pain is still acute for tens of millions of people and businesses across the country as the pandemic that kills more than 400,000 Americans continues to spread.

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