It will take some time for the US economy and the labor market to return to its pre-crisis peak, it said Thursday. Federal Reserve Vice Chairman Richard Clarida, Reuters reported.
Featured statements
“The Fed will support the recovery until the job is well done.”
“The US economy is much more resilient than expected a year ago.”
“The true unemployment rate is close to 10%.”
“Inflation is expected to rise this year, back to 2% or maybe something more in 2022, 2023.”
“The path of expected inflation is fully consistent with the new Fed framework.”
Market reaction
The US Dollar Index showed little to no reaction to these comments and was last seen gaining 0.15% on the day at 92.66.
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