Fed’s Barkin: COVID-19 Cases Raise Uncertainty

The increase in the number of new Coronavirus (COVID-19) cases in the United States led to more uncertainty to the economic outlook, according to the President of the Federal Reserve Bank of Richmond, Thomas Barkin.

“An elevated case rate raises economic uncertainty and that affects businesses’ willingness to hire or spend or invest.”

“The persistence of elevated infections and the risk of a second wave have both psychological and practical implications.”

“Getting back to normal is going to require people to be confident that they can travel, go to movies, and eat out without putting their families at risk.”