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The Impact of COVID-19 on Communities and Small Businesses
Speaking at a Fed webinar, Philadelphia Fed President Patrick Harker said small businesses, and those owned by minorities in particular, are among those most economically impacted by the COVID-19 crisis. Harker said one solution to help create a stronger small business sector could be to ensure that more small businesses and microenterprises have relationships with banks.
Economic Outlook and Building an Inclusive Recovery
President Patrick T. Harker told an audience at the Center City Proprietors Association that the path of the U.S. economy for the rest of the year depends largely on developments involving COVID-19. Addressing the audience virtually, Harker also said he hoped the next period of economic growth would be “strong and more inclusive than the last.”