That’s helped push uncertainty among small business owners to an all-time high since the nearly 40-year inception of a monthly survey the National Federation of Independent Business conducts to gauge small business sentiment.
The scale of firms whose investment plans are impacted by election uncertainty is “pretty remarkable” compared to prior elections, said Daniel Weitz, survey director at the Atlanta Fed.
The Fed’s Beige Book, a quarterly collection of survey responses from businesses compiled by the 12 regional Fed banks published Wednesday, highlighted a wide range of businesses that are suffering because of election uncertainty.
But the blowback that businesses are facing from the election uncertainty should subside once the policy path ahead becomes more clear, at which point we could start to see a rebound in hiring and capital investment businesses make, Meyer told CNN.
The combination of these three major unknowns is shaping small business owners’ uncertain outlooks, said Holly Wade, executive director of the NFIB Research Center.
Persons:
Kamala Harris, Donald Trump, That’s, ” “, Duke, Daniel Weitz, ”, hesitancy, Brent Meyer, Harris, Meyer, that’s, They’re, Holly Wade, “ We’re, Wade
Organizations:
New, New York CNN, National Federation of Independent Business, Reserve, Atlanta and Richmond Federal, Duke University’s Fuqua School of Business, Fortune, Atlanta Fed, Cleveland Fed, Fed, Richmond Fed, Dallas Fed, Trump, CNN, Federal Reserve, NFIB Research
Locations:
New York, ’