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Banks

Fed's Barkin says U.S. economy will need sustained support: WSJ

(Reuters) - The United States economy will need sustained support as it faces a slowing labor-market recovery, Richmond Federal Reserve President Tom Barkin said in an interview to the Wall Street Journal newspaper.

Barkin said the labor market's recovery has been slower than he anticipated because the coronavirus has proven harder to contain than he expected, the Journal reported here on Wednesday.

Barkin’s remarks are published a day after Fed Governor Lael Brainard said the Federal Reserve “in coming months” will need to roll out new efforts to help the economy overcome the impact of the pandemic and live up to the U.S. central bank’s new promise of stronger job growth and higher inflation.

Reporting by Aakriti Bhalla and Kanishka Singh in Bengaluru; Editing by Andrew Heavens

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