11/23/2020, 7:01 PM (Source: TeleTrader)
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Fed's Barkin: There's still room for targeted relief

President of the Federal Reserve Bank of Richmond, Thomas Barkin, estimated on Monday that the United States recovery would be steady, but slow and with backstops.

Barkin revealed it is likely the Fed will revisit its fiscal policies in the upcoming months, adding that the period might be "challenging" due to mass vaccination not taking place before the summer.

Commenting on COVID-19 treatments progress, Barkin said he expects a vaccine to be approved by the end of 2020. Still, he concluded that there is room for a targeted relief package, explaining that households will struggle without additional fiscal stimulus.

Breaking the News / ND