Fed’s Harker: Expects 2020 to show a sharp recession

Fed’s Harker speaking

  • expects 2020 to show a sharp recession
  • expects 2021 will be a growth year with GDP and employment picking up
  • growth seen next year may not be enough to return economy to levels seen at beginning of this year
  • some of the jobs lost because of Covid 19 crisis may never return
  • the Fed is fully committed to building a culture of inclusion