Philadelphia Federal Reserve Bank President Patrick Harker speech
- could see robust growth in H2 if US economy reopens in June with smart measures to contain virus
- says that without effective mitigation measures, economy could severely contract again in 2021
- US economy will underperform until virus is under control
- Fed is considering facilities that would lend directly to colleges, non-profit hospitals
- banks should not issue large dividends at the moment
- sees 'brutally painful' second quarter
- says factories may be able to bounce back, but damage to travel, hospitality may be long-lasting
Headlines via Reuters
