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In an interview with the Wall Street Journal (WSJ) on Wednesday, Richmond Federal Reserve (Fed) President Tom Barkins said that the labor market recovery is slower-than-expected and therefore, the economy will need sustained support.

Key quotes

“Fed will need to continue providing significant and sustained support to the economy. “

“The labor market’s recovery has been slower than he anticipated because the coronavirus has proven harder to contain than expected.”

“How individuals comply with public-health protocols will be a key factor in determining the durability of any recovery. “

more to come …

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