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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 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 daughter of a hiker who was missing in Zion National Park for nearly two weeks has told CNN that her mother injured her head and became disoriented during the hike.Holly Courtier, 38, was found Sunday after having not been seen since she was dropped off by shuttle on Oct. 6. Courtier's daughter, Kailey Chambers, pleaded with volunteers to help find her mother during the disappearance, saying Courtier was an experienced hiker who would not have gone missing as she did without a reason.In text messages with the cable network, Chambers gave an explanation for what happened to her mother during the two weeks she was missing."She injured her head on a tree," Chambers texted. "She was very disoriented as a result and thankfully ended up near a water source -- a river bed. She thought her best chance of survival was to stay next to a water source."In the texts, Chambers says her mother went without food the entire time she was missing."She was too weak and disoriented (to seek help)," she said. "She was unable to take more than a step or two without collapsing. This prevented her from being able to seek out help. She told me she was so dehydrated she couldn't open her mouth."Courtier was found in the park Sunday after officials received a tip from a credible source. 1291
The Bureau of Labor Statistics says that the hospitality industry has been among the hard-hit during the coronavirus pandemic. But some are using the pandemic to test out new adventurous revenue streams amid the pandemic.With the industry severely impacted, there is an opportunity for hotels to monetize its space.HotelsByDay, a company that allows customers to use hotel rooms during daytime hours, lost 80% of its business during the height of the pandemic. But as many workers are unable to return to the office, some are booking rooms as officers.The company is now down 40%, with many clients booking rooms for work purposes.“It would be a lot more adventurous and can really test out every single possibility to monetize their hotel,’ Yannis Moati, the CEO of HotelsByDay said. “Not just with rooms, but with every single corner of the hotel.”According to the BLS, nearly half of all hospitality industry jobs were lost in April, with hotels losing 0 million a day. Six out of 10 hotel rooms were empty early in July. 1035
The FDA warned the public on Thursday to not use hand sanitizers packaged in containers that may appear as food or drinks and may put consumers at risk of serious injury or death if ingested.The FDA said that some products are being packaged in items such as water bottles and food pouches, and may contain flavors such as chocolate or raspberry. The FDA said that ingesting alcohol-based hand sanitizers can cause significant cardiac injury, including death.The FDA said that one consumer bought a plastic bottle of hand sanitizer thinking it was water.“Drinking only a small amount of hand sanitizer is potentially lethal to a young child, who may be attracted by a pleasant smell or brightly colored bottle of hand sanitizer,” the FDA said.“I am increasingly concerned about hand sanitizer being packaged to appear to be consumable products, such as baby food or beverages. These products could confuse consumers into accidentally ingesting a potentially deadly product. It’s dangerous to add scents with food flavors to hand sanitizers which children could think smells like food, eat and get alcohol poisoning,” said FDA Commissioner Stephen M. Hahn, M.D. “Manufacturers should be vigilant about packaging and marketing their hand sanitizers in food or drink packages in an effort to mitigate any potential inadvertent use by consumers.“The FDA continues to monitor these products and we’ll take appropriate actions as needed to protect the health of Americans.” 1475