Comment on Fed reports slowing US economic activity due to virus surge

WASHINGTON — A Federal Reserve survey of business conditions around the country found that economic activity in several regions slowed in November as coronavirus cases surged. The Fed report released Wednesday said that overall, the Fed’s 12 regional banks characterized the economic expansion as “modest or moderate.” But it noted that three Midwest regions and the Philadelphia region reported activity had begun to cool in early November as COVID-19 cases surged. Four districts reported “little or no growth” during November, while five others reported that activity remained well below pre-pandemic levels in some sectors. Kathy Bostjancic, chief U.S.