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Fed Vice Chair: COVID-19 Will Hobble Economy for Years

Federal Reserve Vice Chairman Richard Clarida has forecast that the hit to the U.S. economy from the coronavirus pandemic could last for years. So reports The Hill.

coronavirus 4942077 640 smallIn a speech, Clarida said U.S. gross domestic product probably won’t return to its 2019 high watermark for a year and the unemployment rate will not reach its pre-COVID-19 low even then.

Clarida added that more fiscal stimulus is likely necessary.

Read the full article from The Hill.

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