A new survey released by the Federal Reserve System finds Americans have mixed views on whether their local economies will quickly recover when the COVID-19 pandemic threat abates.
The newly published “Perspectives from Main Street: The Impact of COVID-19 on Communities and the Entities Serving Them” polled nearly 3,900 adults last month and found nearly 7 out of 10 respondents saying that the pandemic created a “significant disruption” to their local economies. While 41% of respondents expected a quick economic bounce back in the post-pandemic period, 35% believed it would take more than a year before their communities return to pre-pandemic economic conditions.
“Listening to and learning from the frontline entities working to support local communities is critical to shaping effective policies and programs,” said Karen Leone de Nie, co-author of the survey and vice president and community affairs officer in the community and economic development group at the Federal Reserve Bank of Atlanta.
“This survey helps amplify their voices as we try to understand the ongoing impact of COVID-19 on vulnerable populations, businesses, community-based organizations, and others.”
