Excerpt from Barron’s quoting DataTrek’s Jessica Rabe:
…. “Elsewhere, data showed that new applications for unemployment benefits were down in the last week, although they were roughly flat on an unadjusted basis. On Wednesday, the Federal Reserve’s Beige Book showed that many layoffs related to the pandemic are becoming permanent. “The U.S. economy has transitioned from crisis mode to now trying to dig itself out of a deep recession, as the Fed’s latest Beige Book laid out,” writes DataTrek’s Jessica Rabe. “[E]ven though the U.S. economy expanded, growth remains sluggish and well below prepandemic levels due to uncertainty and worries over the virus”….
Read the full article here on Barron’s!