The main challenge for the economic recovery in the US will ve convincing consumer to shop, eat out and travel again, Richmond Fed President Thomas Barkin said on Wednesday.
“It’s hard to imagine the US going back to work until infection numbers drop, which could be May or even later,” Barkin added. “Businesses will need to redesign their models to signal that their experience is safe. The economy will only return to full potential when customers are ready to spend.
Market reaction
The US Dollar Index largely ignored these remarks and was last seen adding 0.12% on the day at 100.08.
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