The Federal Reserve is committed to using its full range of tools to support the economic recovery, reiterated the Fed Vice Chairman, Richard Clarida, speaking at an event organized by the Institute of International Finance on Wednesday, Reuters reported.
“Maybe another year before the PIB estadounidense reach the pre-pandemic peak, even longer for full employment to return ”, predicted Clarida. He explained that economic data since May is surprisingly strong, although the outlook remains uncertain and hinges on the virus and successful mitigation efforts.
On new macro monetary policy strategy, Clarida indicated that this increases the importance of keeping inflation expectations well anchored at 2%.
Credits: Forex Street