In most areas of the United States, companies remain positive about short-term developments. However, they are concerned about delivery problems and shortages of raw materials and semi-finished products. At the same time, the majority of regional banks said that the delta variable led to lower economic activity.
Many companies have also had problems with retaining and attracting employees. Not only catering establishments and retail chains suffer from this, but also manufacturers and construction companies. This staff shortage is noticeable across the United States and limits economic growth.
A report from the US Department of Labor stated that there were 10.9 million jobs in the US in July. This is a standard level.
The Federal Reserve is closely monitoring economic developments while the central bank considers when to begin phasing out the coronavirus support package. Currently, the Fed buys up to 120 billion US dollars per month, among other things, government and corporate bonds. At the end of last month, Federal Reserve Chairman Jerome Powell announced that the phasing out of this support could begin as early as this year, but the economy had to stay on the right track.
“Coffee fanatic. Friendly zombie aficionado. Devoted pop culture practitioner. Evil travel advocate. Typical organizer.”