The coronavirus shock to the economy won't push the United States into a damaging bout of deflation given the Fed's response and power to do more, Fed vice chair Richard Clarida said on Monday.
FILE PHOTO: Federal Reserve Vice Chair Richard Clarida talks on the phone during the three-day"Challenges for Monetary Policy" conference in Jackson Hole, Wyoming, U.S., August 23, 2019. REUTERS/Jonathan Crosby
WASHINGTON - The coronavirus shock to the economy won’t push the United States into a damaging bout of deflation given the Fed’s response and power to do more, Fed vice chair Richard Clarida said on Monday. “Demand is impacted very adversely. On net it is disinflationary. I don’t think it is deflationary. I think we have the tools to keep the economy out of deflation,” Clarida said in an interview on Bloomberg television.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Minneapolis Fed Chief Fears 18 Months Of 'Rolling' Shutdowns In COVID-19 FightNeel Kashkari, head of the Federal Reserve Bank of Minneapolis, sees a 'long, hard road' ahead before a vaccine is developed.
Read more »
Carole Baskin Is Not Pleased That You Think She Fed Her Husband to the TigersNo matter your opinion about Baskin, she wants fans of the show to know she is not happy with how she was portrayed.
Read more »
The Fed is on 'wartime' footing and still may be asked to do moreThe moves go beyond anything the Fed during the financial crisis in 2008-09, both in scope and speed.
Read more »
China central bank raises stake in India's HDFCThe People's Bank of China increased its stake in Housing Development Finance Corp Ltd to 1.01% from 0.8%, the Indian lender said in a filing on Saturday.
Read more »
Indonesia central bank may stay on hold for market stability: Reuters pollA small majority of analysts expect Indonesia's central bank to keep its policy rate on hold on Tuesday, as it tries to maintain stability in its currency and capital markets amid pressures from the coronavirus outbreak, a Reuters poll found.
Read more »