Fed's Barkin: New business practices, job retraining key to U.S. recovery

FILE PHOTO: Federal Reserve Bank of Richmond President Thomas Barkin poses during a break at a Dallas Fed conference on technology in Dallas, Texas, U.S., May 23, 2019. REUTERS/Ann Saphir

WASHINGTON (Reuters) - Safe, reliable and affordable changes to current work practices and job retraining will have to form the cornerstone of the U.S. economy’s recovery from the coronavirus crisis, Richmond Federal Reserve President Thomas Barkin said on Monday.

In a post on the Richmond Fed’s website, Barkin also said that new productivity investments will need some government incentive to restore confidence in such an uncertain environment, in comments similar to those he made last week in a webcast.

For a full story on last week’s appearance, see here:

Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama