Richmond Fed president discusses the challenges facing small businesses

"It's a tricky thing to try to pour money in the small business segment and hope you hit it in the right places," Richmond Federal Reserve President Thomas Barkin said. "You need propositions for the businesses in the back end." He joins 'Closing Bell' to discuss the challenges ahead of small businesses amid the pandemic as well as his outlook for the U.S. economy in 2021 during a Biden administration.