Washington | The surge in US coronavirus cases and the restrictions aimed at containing it have begun to weigh on the economic recovery, the head of the Federal Reserve said, pointing to an apparent pullback by consumers and a slowdown in the rehiring of furloughed workers, particularly by small businesses.

"We have seen some signs in recent weeks that the increase in virus cases and the renewed measures to control it are starting to weigh on economic activity," Fed chairman Jerome Powell said in a news conference following release of the US central bank's latest policy statement.

Reuters