Fed reports slowing US economic activity due to virus surge

WASHINGTON (AP) — A Federal Reserve survey of business conditions around the country has found that economic activity in several regions was slowing in November as coronavirus cases surged. The Fed report released Wednesday says that overall, the Fed’s 12 regional banks characterize the economic expansion as “modest or moderate.” But it notes that three Midwest regions and the Philadelphia region reported activity had begun to slow in early November as COVID-19 cases surg