Nov 20, 2020
Recent data does not tell the full story of the COVID economy
At least 15 states have tightened curbs on businesses to try to slow infections.
Patrick T. Fallon/AFP via Getty Images
In October, the U.S. built on earlier gains in retail spending and home construction. But the economic story does not stop there. Plus, is it time to pull back on some of the Fed's ability to fight financial emergencies?
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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.
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The team
David Brancaccio
Host
Victoria Craig
Host, BBC
Stephen Ryan
Senior Producer, BBC
Jonathan Frewin
Producer, BBC
Daniel Shin
Producer
Jay Siebold
Technical Director
Meredith Garretson Morbey
Senior Producer
Alex Schroeder
Producer
Erika Soderstrom
Producer
Rose Conlon
Producer
Brian Allison
Technical Director
