Fed's Barkin: Recovery likely to be slower than first thought
|The fiscal response to the coronavirus has been extensive but more needs to get done as the recovery is likely to be slower than first thought, Richmond Fed President Thomas Barkin said on Tuesday.
"China shows reopening can take place with proper protocols to keep people safe," Barkin added. "Simple math points to significant growth in Q3, policy challenge is to make it as large as possible. The next six to eight weeks will be fundamental in assessing how consumers react to reopenings."
Market reaction
Wall Street's main indexes continue to trade mixed after these comments. As of writing, the S&P 500 and the Nasdaq Composite were both down 0.2% on the day while the Dow Jones Industrial Average was gaining 0.25%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.