The U.S. economy is facing a slowdown in September, rather than the takeoff once hoped for.
Earlier this summer, many economists saw the week of Labor Day as the moment when the economic recovery would kick into high gear. Their expectation was that widespread vaccination would ease labor shortages. Schools and offices would reopen, which would mean a comeback for local businesses reliant on office workers. Travel would rebound. Stevie Nicks would be back on tour.
Instead, the rise of Covid’s Delta variant has the nation tapping the brakes.