In 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.
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Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.
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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.
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