Fed’s Clarida: Economic Recovery Will Need Time

The Vice Chair of the United States Federal Reserve, Richard Clarida, said on Monday that the US economy is recovering from the COVID-19 crisis but would need more time to return to its levels prior to the pandemic.

“While recovery since the spring collapse in economic activity has been robust, let us not forget that the full economic recovery from the COVID-19 recession has a long way to go.”

“Speaking for the Fed, I can assure you that we are committed to using our full range of tools to support the economy and to help ensure that the recovery from this difficult period will be as robust and rapid as possible.”