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The Federal Reserve says economic activity has picked up in most regions of the country but still remains well below pre-pandemic levels with the country facing high levels of uncertainty.The Fed reported Wednesday that its latest survey of economic conditions around the country found improvements in consumer spending and other areas but said the gains were from very low levels seen when widespread lockdowns push the country into a deep recession.And the report said that business contacts in the Fed’s 12 regions remained wary about the future.“Outlooks remained highly uncertain as contacts grappled with how long the COVID-19 pandemic would continue and the magnitude of its economic implications,” the Fed said in its latest Beige Book.Economists said the Fed survey underscored how uncertain the outlook was at present.“Last month’s optimism as businesses were reopening has since given way to concerns over reinforced shutdowns, announced delays in school openings and growing consumer fears,” said Curt Long, chief economist of the National Association of Federally-Insured Credit Unions. “A smooth path back to normal was never likely, but it will still leave consumers and businesses more cautious until a vaccine is ready and widely available.”The information in the report will provide guidance for Fed officials at their next meeting on July 28-29. Economists expect the central bank to keep its benchmark interest rate at a record low as it tries to cushion the economy from the pandemic downturn.The Beige Book found only modest signs of improvement in most areas, noting that consumer spending had picked up as many nonessential businesses were allowed to reopen, helping to boost retail sales in all 12 Fed districts but construction remained subdued.Manufacturing activity moved up, the report said, ’but from a very low level.”The economy entered a recession in February, ending a nearly 11-year long economic expansion, the longest in U.S. history. Millions of people were thrown out of work and while 7.3 million jobs were created in May and June that represented only about one-third of the jobs lost in March and April.And now, in recent weeks with virus cases surging in many states, there are concerns that the fledgling recovery could be in danger of stalling out.The Beige Book reported that employment had increased in almost all districts in the latest survey, which was based on responses received by July 6, but layoffs had continued as well.“Contacts in nearly every district noted difficulty in bringing back workers because of health and safety concerns, child care needs and generous unemployment insurance benefits,” the Fed said.The report said that many businesses who had been able to retain workers because of the government’s Paycheck Protection Program said they might still be forced to lay off staff if their businesses do not see a pickup in demand.The Fed in March cut its benchmark interest rate to a record low of 0 to 0.25% and purchased billions of dollars of Treasury and mortgage-backed bonds to stabilize financial markets.But Fed officials have recently expressed concerns that a resurgence of the virus in many states may require more support from the central bank and from Congress.Fed board member Lael Brainard said in a speech Tuesday that the economy was likely to “ face headwinds for some time ” and that continued support from the government will remain “vital.”The Trump administration has said it plans to negotiate another support package once Congress returns from recess next week. Republicans and Democrats remain far apart on what should be in the new package with Democrats pushing for a package of around trillion while GOP lawmakers have called for smaller support of around trillion.Congress will only have two weeks to reach a compromise before two of the most popular programs providing paycheck protection for workers and expanded unemployment benefits expire. The unemployment support provided an extra 0 per week but many Republicans say that amount was too high and kept some people from returning to work. 4106
The Federal Aviation Administration issued an emergency directive for inspections of certain Boeing 737 planes due to recent reports of engine shutdowns.The FAA issued an emergency airworthiness directive on Thursday for certain Boeing 737s that have been in storage for more than a week.According to the directive, a certain engine valve may be responsible for four recent reports of engine shutdowns. Agency officials suspect that the valve may become corroded during storage, causing it to remain stuck in the open position.The directive requires that any Boeing 737-300, -400, -500, -600, -700, -700C,-800, -900, and -900ER that have been in storage for a week or longer undergo an inspection before being put back into use. The directive also requires inspections for any of those Boeing models that have completed "less than 10 flight cycles" at the time of the directive after coming out of storage.The inspection order was released the same day that CNBC reported that Boeing told lenders to expect fewer deliveries of its 737 Max planes that initially expected. The 737 Max, a plane Boeing has been developing for years, was grounded in 2019 after a series of crashes. 1185

The founder of the Women's March is calling for the movement's current co-chairs to step down for allowing bigotry into their mission.Teresa Shook, a lawyer and educator who founded the Women's March movement, accused the group's current co-chairs -- Bob Bland, Tamika Mallory, Linda Sarsour and Carmen Perez -- of associating with bigoted outside groups and tarnishing the Women's March's initial goals in a post on her Facebook page Monday.The co-chairs "have steered the Movement away from its true course. I have waited, hoping they would right the ship," Shook wrote. "But they have not. In opposition to our Unity Principles, they have allowed anti-Semitism, anti-LBGTQIA sentiment and hateful, racist rhetoric to become a part of the platform by their refusal to separate themselves from groups that espouse these racist, hateful beliefs.""I call for the current Co-Chairs to step down and to let others lead who can restore faith in the Movement and its original intent," Shook added. "I stand in Solidarity with all the Sister March Organizations, to bring the Movement back to its authentic purpose."The Women's March leaders swiftly shot back, crediting Shook for "creating a Facebook event named the Million Women's March" and lambasting her for not working to support the movement's ongoing growth."Today, Teresa Shook weighed in, irresponsibly, as have other organizations attempting in this moment to take advantage of our growing pains to try and fracture our network," the Women's March wrote in a post on its Facebook page. "Groups that have benefited from our work but refuse to organize in accordance with our Unity Principles clearly have no interest in building the world our principles envision. They have not done the work to mobilize women from diverse backgrounds across the nation.""Our ongoing work speaks for itself. That's our focus, not armchair critiques from those who want to take credit for our labor," the statement continued.The 2019 Women's March is slated for January, two years after the initial march that followed President Donald Trump's inauguration, and inspired countless sister marches nationwide.Shook's critique comes following longstanding criticism of the group's association with Louis Farrakhan, the leader of the black nationalist group Nation of Islam, who has made numerous anti-Semitic and homophobic comments.Mallory and Perez have both posted photos on Instagram of themselves with Farrakhan praising the National of Islam leader, and Sarsour spoke at the Justice or Else rally headlined by Farrakhan in 2015. Mallory, an African-American leader of the Women's March and anti-gun violence activist, attended a large event in February where Farrakhan stated that "the powerful Jews are my enemy."Mallory declined to denounce Farrakhan after the event. The Women's March released a statement emphasizing that Farrakhan's statements were "not aligned with the Women's March Unity Principles" and that "our external silence has been because we are holding these conversations and are trying to intentionally break the cycles that pit our communities against each other."Sarsour said that following the shooting at the Tree of Life synagogue in Pittsburgh, critics suddenly called on the Women's March to denounce Farrakhan."There was nothing new that happened between Women's March and the Minister," Sarsour wrote in an online essay. "Folks decided to rehash 8 months ago."MPower Change, a Muslim organization that Sarsour co-founded, helped raise over 0,000 to cover the funeral expenses for the Tree of Life victims"This is not a letter in defense of Minister Farrakhan," she added. "He can do that for himself. We have been CRYSTAL CLEAR in BOTH of our statements that we REJECT antisemitism and all forms of racism. We have been CLEAR that Minister Farrakhan has said hateful and hurtful things and that he does not align with our Unity Principles of the Women's March that were created by Women of Color."A week before the Tree of Life shooting, Farrakhan made public anti-Semitic remarks, saying, "I'm not an anti-Semite. I'm anti-Termite." 4113
The Cheektowaga, New York mother whose battle with breast cancer captured the hearts of many Western New Yorkers has died. Libby Gaymon, 43, passed away Tuesday. She had faced breast cancer twice in less than two years.In May, Libby's daughter Alexis asked her mom to be her date to the senior prom at McKinley High School in Buffalo. The surprise promposal was a well-coordinated effort between Alexis, her family and McKinley administrators. Alexis wanted to bring her mother because Libby didn't get to go to the prom when she was in school.On prom night, dozens of supporters of Libby packed the Gaymons' front lawn, some spilling onto the sidewalk and neighboring lawns to cheer on the mother-daughter duo.McKinley High School donated a limousine, while other community members offered free wig services, makeup application and corsage supply to make the night even more special.Most recently, Gaymon tried an experimental immunotherapy treatment at Roswell Park. Immunotherapy helps the body’s immune system attack cancer cells. It is still being studied nationwide to see if it can play a role in treating metastatic breast cancer. Her message she shared with Buffalo-based WKBW anchor Ashley Rowe in September was clear: slow down and take time to appreciate the world around you, or else you’ll miss everything.“You’re walking down the street on the phone, either you’re on the phone or you’re texting and you’re not even seeing your surroundings," Libby said. "You’re not seeing if you walk past flowers, or if you walk past somebody smiling back at you, but you’re too busy on your phone. You guys are letting life pass you by.” 1681
The fourth nor'easter in three weeks already is closing schools and canceling thousands of flights Wednesday as it's expected to dump record springtime snow in the Northeast.A day after the official beginning of spring, the storm will bring heavy snow, strong winds and even coastal flooding to some areas. It has potential to be one of the most significant and most disruptive snowstorms this late in the season, CNN meteorologists said."If the current forecast pans out, this nor'easter will dump more snow on Washington, Philadelphia and New York than the three earlier storms combined," CNN meteorologist Brandon Miller said.More than 70 million people are under a winter storm watch, warning or advisory from the southern Appalachians to Boston.The storm will move away from the region by Thursday but not without first hitting coastal New England and Maine.Latest developments? More than 4,100 flights are canceled Wednesday due to the storm, according to the tracking site Flightaware.com.? Public schools in New York City, Philadelphia and the District of Columbia are closed Wednesday.? The storm already dumped 13 inches of snow in Greencastle, Pennsylvania, and blanketed Smith Crossroads in West Virginia with 9.2 inches.Snow disrupting nation's capitalWashington will likely see 4 to 6 inches of snow, with some models hinting at much higher totals for the District. Areas west and north of the city are likely to see close to a foot of snow."It's been 75 years since Washington has had 5 inches of snowfall or greater this late in the season," Miller says.Track the storm with high resolution auto-updating graphicsThe inclement weather caused closures for much of the federal government. The White House and State Department canceled all public events for the day. However, the House and Senate are planning to work Wednesday as Congress tries to finalize a spending deal.Philadelphia could see up to a foot of snow. The City of Brotherly Love may get its biggest snowfall after the first day of spring in more than 100 years.For those in other parts of Pennsylvania, the storm was already well underway Wednesday morning. Thile Kreider posted an Instagram video of the snow blanketing her yard in Manheim.New York could break 1958 recordWind gusts and snow reached New Jersey and New York City on Wednesday morning. Ten inches to more than a foot is forecast in the New York City area before the storm departs early Thursday.But Central Park in Manhattan may only receive 4 to 6 inches of snow, CNN meteorologist Chad Myers said, explaining it's more likely snow will accumulate in areas at higher elevations."If New York gets 12 inches of snow -- the National Weather Service currently has a high-end potential of 13 to 21 inches -- it would be its largest snowfall ever recorded after the first day of spring," Miller says.The current record is 11.8 inches, set on March 21, 1958.With these late winter storms, it is difficult to predict snowfall amounts because of the mixing of warmer air. In some of the earlier nor'easters, the air near the ground has stayed warm enough that places like New York have seen lots of snow fall from the sky but had little accumulation. An urban heat island effect is plausible once again with this spring storm.Boston stayed on the warmer side in the first two nor'easters but then got walloped with snow during the third storm this month. The city is likely to see another 6 to 8 inches of snow, adding to the 20-plus inches it has already received in March.If Boston gets 10 inches, the city would have its third snowiest March on record.These late winter storms are likely to become more frequent with climate change. A study last week in the scientific journal Nature Communications ties extreme winter weather, specifically major snowstorms in the Northeast, to warming Arctic temperatures.Blizzard conditions likelyWith a forecast of heavy snow and winds more than 45 mph, blizzard conditions are possible.New York City could see sustained winds of 20 to 30 mph Wednesday, and coastal areas such as Cape Cod in Massachusetts are predicted to receive gusts up to 60 mph from midmorning Wednesday to Thursday.What is makes a snow storm a blizzardFlooding is a threat along the coast from Virginia to Massachusetts. Some of the worst coastal flooding could occur along the Jersey Shore, with high tides of 2 to 3 feet above normal possible.This will put a strain on already vulnerable coastal areas, which saw dramatic storm surges from the nor'easters over the last three weeks.The-CNN-Wire 4555
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