Fed’s Barkin Sees Strong Second Half After ‘Bumpy’ Few Months

Federal Reserve Bank of Richmond President Thomas Barkin says the U.S. could face a bumpy first six months but will be well supported by the rollout of Covid-19 vaccines and fiscal stimulus later in the year.

“I do think you’re looking at a second half that is going to be very strong and the question I think is how do we get through where we are today to that second half,” Barkin, who votes on monetary policy this year, told CNBC in an interview Monday. “While it might be bumpy, I think there are backstops here, and in particular, fiscal would be a backstop, I think elevated savings are a backstop,” he said.