World News

Fed’s Barkin: Businesses already planning ways to adapt to post-pandemic world

WASHINGTON (Reuters) – Businesses are already planning changes in how they operate to be more resilient to health crises like the current coronavirus pandemic, analyzing supply chains and looking for ways to build social distancing into their ongoing operations, Richmond Federal Reserve bank president Thomas Barkin said on Tuesday.

“Folks who are in consumer facing businesses are thinking very aggressively about how you can build separation, cleanliness, a health protocol,” into their operations, Barkin said in an interview with Yahoo Finance. “People are rethinking supply chains — to diversify them. They have seen the implications of an outage.”

(Reporting by Howard Schneider; Editing by Sandra Maler)