Fed’s Barkin worries U.S. ‘could talk [itself] into recession’

There is a risk that U.S. businesses could convince itself that bad times are around the corner and actually cause a downturn, said Richmond Fed President Thomas Barkin on Tuesday. Right now, firms are frustrated with political polarization and uncertainty about regulation, Barkin said in a speech to business leaders in Baltimore. Businesses say they‘re not scaling back yet but are reluctant to double down. "For these reasons, I don‘t discount the idea that we could talk ourselves into a recession — particularly if the uncertainty begins to affect consumer confidence and spending," he said. Barkin said he didn‘t think a recession was imminent. "There‘s no evidence that we‘re faltering."

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