Federal Reserve Bank of Richmond President Thomas Barkin said a rebound in U.S. coronavirus cases to about 50,000 a day has added uncertainty to the outlook and may discourage businesses from hiring or investing.
“An elevated case rate raises economic uncertainty and that affects businesses’ willingness to hire or spend or invest,” Barkin told a virtual conference Wednesday sponsored by West Virginia University. “The persistence of elevated infections and the risk of a second wave have both psychological and practical implications” for businesses and consumers.
