Federal Reserve member Clarida indicated that economic recovery may start by the second half of the year. More of his statements follow:
We are going through the most severe cases of deflation and the rise of unemployment is at its highest historical levels.
We are using every available tool, whether it be the balance sheet or loan facilities, to support the economy.
This administration has never before been confronted with the kind of data we are seeing in this period.
Unemployment rates will reach levels not seen since the 1940s.
The economy may recover once businesses reopen and people go back to work, but it will take some time.
The Fed is building a recovery bridge with lending facilities.
The Fed led by Powell met to create temporary emergency facilities to buy assets such as corporate bonds.
We will do everything we can to face any risks.
