Fed Economist: Small Retail Making Comeback

HERMITAGE, PA — Russell Mills, vice president and senior regional officer for the Federal Reserve Bank of Cleveland-Pittsburgh Branch, gave his insights on the economy during an economic forecast breakfast held by the Shenango Valley Chamber of Commerce.

One topic he touched on was small retail and how it appears to be making a comeback in 2023.

Mills said, “In the pandemic, a lot of people started their own businesses and as they shifted from e-commerce to now more sort of wanting to create a brick and mortar storefront, I think that’s why we’re seeing small business continue to sort of create new storefronts in the region.”

Copyright 2024 The Business Journal, Youngstown, Ohio.