Fed Clarida: prospects have brightened, outlook downside diminished

Fed's Clarida speaking on the economy

• will take some time for economy to see pre-virus levels
• prospects have brightened, outlook downside diminished
• FOMC to keep accommodating until outcomes reached
• pace of recovery has moderated due to virus resurgence
• Covid infections in the United States, spread of coronavirus variance pose downside risk to very near term outlook
• Fed is committed to using full range of tools to support the economy, make recovery robust and rapid