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Fed’s Clarida Has More Confidence Vaccines Will Support Recovery

  • Says this rebound can beat slow pace after last recession
  • Vice chair offers no new hint on asset purchase policy
Richard Clarida
Richard ClaridaPhotographer: Sarah Silbiger/Bloomberg
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Federal Reserve Vice Chairman Richard Clarida said prospects for the economic recovery were brightening due to progress in the development of vaccines to fight the Covid-19 pandemic.

“The news has been very good to have now two successful trials with above 90% efficacy,” Clarida, referring to encouraging late-stage trial results from Pfizer Inc. and Moderna Inc., said Monday in an online discussion hosted by the Brookings Institution.