Clarida Expects Full Recovery by End of 2021

The US Federal Reserve Vice Chairman, Richard Clarida, said in an interview on Wednesday that the United States economy could recover to its levels prior to the COVID-19 crisis by the end of next year, Reuters reported.

“It will take some time, I believe, before we get back to the level of activity that we were in February before the pandemic hit.”

“My baseline view is that we could get back to the level of activity perhaps towards the end of 2021.”

“There are a lot of moving parts here with the virus and the global outlook, so I think there’s a pretty good range of uncertainty.”

“We are focused on the goal of supporting the economy and if we need to adjust our programs we will do so.”