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Recent data does not tell the full story of the COVID economy

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A cafe manager clears an outdoor table following reimposed restrictions on indoor dining in Orange County due to Covid-19 in Santa Ana, California, November 17, 2020.

At least 15 states have tightened curbs on businesses to try to slow infections. Patrick T. Fallon/AFP via Getty Images

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Recently released economic data on October looks upbeat. Our pandemic reality does not.

Sure, there was strong growth in home construction and slight growth for retail sales, but that was October. Christopher Low, chief economist at FHN Financial, says that it seems "increasingly inevitable that the state and local restrictions on activity, which of course are already increasing, we'll have to tighten up enough that we're looking at some really significant growth speed bumps." There's positive vaccine news, yes, but Low says he thinks it's months before that translates into herd immunity.
COVID-19

Mnuchin moves to cut off Fed pandemic emergency lending program

by David Brancaccio , Meredith Garretson , Erika Soderstrom and Alex Schroeder Nov 20, 2020
Economist Karen Petrou says the Fed programs have fallen short, but that the Fed needs some facilities in the face of inaction from Congress.

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