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2 Min Read 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 (Reuters) - Despite “very near-term” downside risks to the U.S. economy from the spread of COVID-19 and emergence of new variants, effective vaccines and fiscal relief passed late last year have set the table for stronger growth, Federal Reserve Vice Chair Richard Clarida said on Wednesday. “Prospects for the economy in 2021 and beyond have brightened and the downside risk to the outlook has diminished,” Clarida said in remarks prepared for delivery to the U.S. Chamber of Commerce.

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