Fed’s Barkin Optimistic for Recovery in 2021

The President of the Federal Reserve Bank of Richmond, Thomas Barkin, on Wednesday expressed his optimism regarding the recovery of the American economy this year amid the rollout of Coronavirus vaccines.

During the first third of 2021, the U.S. economy will continue to be challenged by the pandemic, which requires stimulus measures to help struggling businesses and the unemployed, as well as the rollout of vaccines, according to Barkin.

He further explained that the second third of the year will see a return to activities such as travel and entertainment after vaccines have been distributed to the majority of the population.

Barkin noted that the final third of the year could see a return to normal activities in the business environment.