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10/19/2020, 6:03 PM (Source: TeleTrader)
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Fed's Clarida: Monetary and fiscal support needed

Federal Reserve Vice Chairman Richard Clarida said on Monday it is likely that additional fiscal and policy measures will be needed so the United States economy could overcome the coronavirus crisis.

Clarida warned the economic recovery still has a "long way to go," relating to the high unemployment rate and low inflation.

White House Chief of Staff Mark Meadows previously revealed a bipartisan deal on a new relief package could be reached within the next two days. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are expected to hold a conference later in the day.

Breaking the News / ND