A suit store in Portland, ME. Photo: Ben McCanna/Portland Portland Press Herald via Getty Images.

The Fed's latest beige book released Wednesday showed U.S. business owners remain largely bullish on the economy but are losing faith in the longer-term outlook.

What's happening: Business activity varied across the country, with the West and South more upbeat than the Midwest and Great Plains, which are U.S. manufacturing hubs.

  • A number of districts also reported that manufacturers have "reduced headcount because orders were soft," while others are cutting hours rather than laying off workers.
  • Employers continued to note the tight labor market and said finding quality workers was still a top problem. However, that has been a plus for workers as large companies are said to be offering larger pay packages and small companies are using benefits and bonuses to compete.

Go deeper: A crisis for retail jobs

Go deeper

7 hours ago - Health

Fauci says if people won't wear masks, maybe it should be mandated

Anthony Fauci. Photo: Graeme Jennings- Pool/Getty Images

NIAID director Anthony Fauci told CNN on Friday evening that if "people are not wearing masks, then maybe we should be mandating it."

Why it matters: Fauci made the comments the same day the U.S. hit its highest daily COVID-19 case count since the pandemic began.

Harris to Black voters: Casting a ballot is about honoring your ancestors

Democratic vice presidential nominee Kamala Harris speaks at a "Get Out The Vote" rally at Morehouse College. Photo: Elijah Nouvelage/AFP via Getty Images

Sen. Kamala Harris appealed to Black voters in Georgia on Friday, urging them to "honor the ancestors" by casting ballots, and again calling President Trump a "racist."

Why it matters: The U.S. saw a significant decline in African-American voter turnout between 2012 and 2016, reaching its lowest point since 2000. Higher turnout among Black Americans this year could tip the balance in favor of Democrats in key battleground states, including Georgia.

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci: Trump hasn't been to a COVID task force meeting in months.
  2. Sports: The youth sports exodus continues — Big Ten football is back.
  3. Health: U.S. hits highest daily COVID-19 case count since pandemic began —AstraZeneca to resume vaccine trial in U.S.How to help save 130,000 lives.
  4. Retail: Santa won't greet kids at Macy's this year.
  5. World: Spain and France exceed 1 million cases.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!