Fed’s Clarida says vaccine rollout has ‘brightened’ 2021 economic outlook
Rising Covid cases are downside in near term, but economy should bounce back, says vice-chair
Richard Clarida struck an upbeat note in remarks on January 8, arguing that the rollout of Covid-19 vaccines was likely to result in a stronger economy this year.
The Federal Reserve vice-chair acknowledged the recent surge in Covid cases in the US was a major setback in the near term, but said he still thought economic prospects in 2021 had “brightened”.
Clarida said the recent meeting of the Federal Open Market Committee reflected this. “While nearly all participants continued to judge that
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