Fed's Clarida says too soon to tell coronavirus impact on U.S. economy

FILE PHOTO: Federal Reserve Vice Chair Richard Clarida reacts as he holds his phone during the three-day "Challenges for Monetary Policy" conference in Jackson Hole, Wyoming, U.S., August 23, 2019. REUTERS/Jonathan Crosby

WASHINGTON (Reuters) - The impact of the coronavirus on the U.S. economy would likely need to be “material and persistent” for the central bank to change its outlook, U.S. Federal Reserve Vice Chair Richard Clarida indicated on Tuesday.

“It is really just too soon to tell the extent to which this does impact global activity and the extent to which it might impact the U.S. economic activity and whether or not it will be material and persistent,” Clarida said during an appearance at the National Association for Business Economics conference in Washington.

“What we’ve said is that we’re really going to be looking at all the data on this.”

Reporting by Lindsay Dunsmuir and Howard Schneider; Editing by Sandra Maler