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.

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%.