Fed's Barkin: The resurgence in the virus is dampening pace of US economic momentum

Author: Adam Button | Category: Central Banks

Comments from the Richmond Fed leader

Comments from the Richmond Fed leader
  • Higher virus cases could be a significant impediment to confidence
  • Uncertainty is high
  • We will know more in the next couple of weeks
  • "Most everyone thought in March, that this would be a couple of months and then done"
What an embarrassing quote that is. Who thought that?

  • Says spending flattened out 3-4 weeks ago based on daily spending data he sees
  • He's worried that spending falls even if jobs come back
  • Worries about scaring on small businesses and propensity to hire

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