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On a CNBC interview, Federal Reserve’s’ Clarida says we’re living through the most severe contraction in activity and surge in unemployment we’ve seen in our lifetimes.

Key comments

  • FED’S CLARIDA SAYS RECOVERY COULD BEGIN IN THE SECOND HALF OF THE YEAR
  • 05-May-2020 13:14:59 – FED’S CLARIDA SAYS WE’RE USING OUR FULL RANGE OF TOOLS, RATES, BALANCE SHEET, FORWARD GUIDANCE AND LENDING FACILITIES TO SUPPORT THE ECONOMY
  • 05-May-2020 13:15:10 – FED’S CLARIDA SAYS WE’RE IN FOR A PERIOD OF VERY DIFFICULT DATA WE HAVEN’T SEEN FOR THE ECONOMY IN SOME TIME.
  • CLARIDA SAYS UNEMPLOYMENT RATE IS GOING TO SURGE TO LEVELS NOT SEEN SINCE THE 1940s.
  • 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

More to come…