Richmond Fed chief: With outlook hazy, economy needs support
June 28, 2020
WASHINGTON (AP) — As president of the Federal Reserve Bank of Richmond since 2018, Tom Barkin is a member of the Fed's powerful committee that sets interest rates. The committee has been engaged this year in an extraordinary drive to support the economy and the financial system through ultra-low rates and new lending programs designed to keep credit markets running smoothly and encourage companies and households to borrow and spend.
Barkin takes part in the rate-setting committee's discussions, though under the Fed's rotation system, he is not a voting member of the committee this year.