Fed’s Clarida Calls Coronavirus a ‘Wild Card’ for U.S. Outlook

The transcript discusses the global impact of the coronavirus, focusing on economic monitoring and uncertainty. It highlights the challenges of predicting the virus's effects on global and US economies. The discussion includes the yield curve as an economic indicator and the role of monetary policy in addressing potential economic shocks. The importance of timely action in monetary policy is emphasized, with a focus on the Powell Fed's approach to anticipating and offsetting economic disruptions.

What factors contribute to the uncertainty surrounding the economic impact of the coronavirus?

Why is it challenging to determine the timing of economic actions in response to the coronavirus?