Fed’s Barkins: Economy will need sustained support

In an interview with the Wall Street Journal (WSJ) on Wednesday, Richmond Federal Reserve (Fed) President Tom Barkins said that the labor market recovery is slower-than-expected and therefore, the economy will need sustained support.

Key quotes

“Fed will need to continue providing significant and sustained support to the economy. “

“The labor market’s recovery has been slower than he anticipated because the coronavirus has proven harder to contain than expected.”

“How individuals comply with public-health protocols will be a key factor in determining the durability of any recovery. “

more to come ...