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Clarida: Unemployment will surge to numbers we haven't seen since 1940s
Fed's Clarida:
— DailyFX Team Live (@DailyFXTeam) May 5, 2020
- Unemployment rate will surge to numbers we have not seen since the 1940s
- Course of economy will depend on course of virus
- CNBC
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FED CLARIDA SAYS THERE CAN BE A REBOUND IN THE ECONOMY ONCE BUSINESSES REOPEN AND PEOPLE RETURN TO WORK BUT IT'S GOING TO TAKE SOME TIME
— Breaking Market News (@breakingmkts) May 5, 2020
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CLARIDA SAYS IT MAY WELL BE THE CASE THAT MORE POLICY SUPPORT IS NEEDED FROM THE FED AND SOME FISCAL POLICY AS WELL
— *Walter Bloomberg (@DeItaone) May 5, 2020
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Fed Vice Chair Richard Clarida sees positive economic growth in the third quarter
The U.S. economy can return to positive growth in the third quarter after a massive drop in employment and GDP, Federal Reserve Vice Chairman Richard Clarida told CNBC on Tuesday. “Our policies we think will be very important in making sure that the rebound will be as robust as possible. We’re in a period of some very, very, very hard and difficult data that we’ve just not seen for the economy in our lifetimes, that’s for sure,” Clarida said. But a third-quarter rebound “is one possibility. That is personally my baseline forecast,” he added. Since the economy has gone into an almost complete shutdown ... (full story)
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