- Fed's Vice Chairman Clarida: Fed expects to keep rates lower for longer - Bloomberg
Market news
23 September 2020
Fed's Vice Chairman Clarida: Fed expects to keep rates lower for longer - Bloomberg
- Not even going to think about raising rates until actual inflation is at 2%
- Current state of the world puts downward bias on inflation and upward bias on unemployment
- Judgement on any inflation overshoot will be made closer to the time
- U.S. needs to spend "some time" with inflation above 2% to offset time spent below it
- U.S. should see a "pretty impressive" return of low unemployment
- Overshooting of inflation an "academic point" until economy recovers
- Additional fiscal support will likely be needed for U.S. recovery
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