Vaccines, Relaxed Distancing Boost Economy
The Federal Reserve said Wednesday (June 2) that the U.S. economy grew at a moderate clip between early April and late May, according to the central bank’s Beige Book, which covers economic conditions throughout its 12 districts.
While a number of districts noted that increased inoculation rates and eased social distancing measures boosted the economy, they also noted that supply chain disruptions were having a negative impact on the economy, the report stated. Manufacturers pointed out that broad shortages of materials and labor, in addition to delivery delays, made it challenging to get products to clients.
The Fed also noted that it is still a…