The CEO of the Federal Reserve Bank of Richmond said Monday he expects the economy in the first quarter to be “bumpy” and then improve steadily as Covid-19 vaccines become more widely distributed. Tom Barkin provided his take during a fireside chat hosted by the Maryland Bankers Association where he touched on a number of issues related to the economy and the banking industry. He told some 180 bankers watching the virtual event that he will be closely watching what happens to spending patterns and inflation because people have saved so much money in their bank accounts during the pandemic.
Richmond Fed CEO expects strong economy in second half of 2021
February 23, 2021