The U.S. economy could go through a second edition of the Roaring Twenties, said Federal Reserve Bank of Richmond President and CEO Thomas Barkin in a recent speech. Speaking in front of the Virginia Bankers Association and Virginia Chamber 2022 Financial Forecast event, Barkin purported that U.S. households have seen a significant increase in net worth over the last two years, swelling about $32 trillion. He alluded to several factors that could sustain this immense growth, despite the central bank tapering its pandemic-era stimulus and relief measures: record corporate profits, durable balance sheets, low inventories, and budget surpluses at the state level. At the same time, Barkin does anticipate some problematic hurdles to overcome moving forward, including labor shortages and the Omicron variant “wild card.” However, according to the head of the Richmond Fed Bank, “COVID has now largely become a supply side and an inflationary challenge.” Barkin noted that …