“The outlook for the economy in 2021 and beyond has improved and the downside risk to the outlook has diminished,” said the Vice Chairman of the Federal Reserve, Richard Clarida, in statements prepared for delivery to the US Chamber of Commerce on Wednesday.
Key statements summarized by Reuters
“COVID-19 infections in the United States, the spread of coronavirus variants pose a downside risk to the very short-term outlook.”
“It will take some time for US economic activity and employment to return to pre-pandemic peaks.”
“The Fed is committed to using a full range of tools to support the economy and make the recovery strong and fast.”
Market reaction
The US Dollar Index did not show an immediate reaction to these comments and was last seen posting small daily gains at 90.21.
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