Fed's Barkin sees solid recovery "on horizon"

NEWS IN ENGLISH

Federal Reserve Bank of Richmond President Thomas Barkin said that he believes the US economy is set for a solid recovery this year amid increased vaccinations against the coronavirus and additional fiscal stimulus.


"I do think we’re at the point where there’s daylight on the horizon," Barkin, a voting member on the Federal Open Market Committee this year, told the Wall Street Journal in an interview released on Monday. Additionally, Barkin said he isn't concerned about rising bond yields and inflation. "In fact, I would be disappointed if we didn’t see yields, you know, rise as the outlook improves," he noted.


"I’m hopeful that the combination of our monetary policy framework and the country’s aggressive fiscal policy response, combined with some of the pressures we know we’re going to see in the next year, will start to move the needle on that this year," Barkin concluded.

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