Federal Reserve Vice Chairman Richard Clarida said Wednesday he expects the economy to continue to recover through the year and likely return to its pre-pandemic level by the end of the 2021.
In an interview with Steve Liesman on CNBC’s “Squawk Box,” the central bank’s director of bank supervision said he hasn’t changed his forecast despite a swell in Covid-19 cases that has caused a general slowing in resumption of activities.
“The economy took a huge hit in the spring,” Clarida said. “My own personal forecast is that we’ll see a rebound in economic activity in the third-quarter data. The course of the economy is going to depend on the course of the virus, and it’s a complex…