- Fed's Vice Chairman Clarida: Fed's framework review is reassessing case for balance sheet policies and forward guidance as well as other tools in the event of another downturn
Market news
14 November 2019
Fed's Vice Chairman Clarida: Fed's framework review is reassessing case for balance sheet policies and forward guidance as well as other tools in the event of another downturn
- U.S. economy at or close to Fed's twin goals
- Sees no evidence rising wages causing excess inflation
- Inflation close to 2% goal, expectations at low-end
- U.S. inflation expectations reside at low-end of range he considers consistent with Fed's price stability mandate
- No evidence rising wages are putting excessive upward pressure on inflation
- Thinks natural rate of unemployment extends 24% and below and includes current unemployment rate of 3.6%
- Makeup strategies on inflation lead to better than average performance on both legs of dual mandate
- Increase prime age participation a factor in restraining inflationary pressures
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