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Vice Chair Rich Clarida pledges Fed "will.......>

FED
FED: Vice Chair Rich Clarida pledges Fed "will continue to act forcefully,
proactively, and aggressively as we deploy our toolkit -- including our balance
sheet, forward guidance, and lending facilities" to support the recovery. 
- expect economy to start to grow, unemployment rate to fall in 2H; full
recovery will take "some time"
- demand shock larger than supply shock and will be disinflationary; "will put
downward pressure on core inflation, which was already running somewhat below"
the 2% objective before the pandemic
- additional fiscal support may be called for depending on course of virus,
which is highly uncertain
- remarks prepared for New York Association for Business Economics webcast
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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