- Fed's vice-chair Clarida: Rising yields reflect optimism about the recovery and fiscal support
Market news
25 March 2021
Fed's vice-chair Clarida: Rising yields reflect optimism about the recovery and fiscal support
- Going forward, low unemployment rate, in and of itself, will not be sufficient to trigger tightening of monetary policy absent any evidence from other indicators that inflation is at risk of moving above mandate-consistent levels
- It will take some time for economic activity and employment to return to levels that prevailed at business cycle peak reached last February
- U.S. economy is much more resilient than forecast a year ago
- We are committed to using our full range of tools to support economy until the job is well and truly done
- I expect most of increase in prices to be transitory and for inflation to return to-or perhaps run somewhat above-our 2% longer-run goal in 2022 and 2023; this outcome would be entirely consistent with new framework we adopted in August 2020
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