Further comments by Clarida
- Fed has policy independence but is accountable for results
- Does not think that Fed independence is under threat
- Says that we're doing our job and will continue to do so
- Fed is focused on doing its job (when asked about threat of Powell demotion)
A little bit of a reveal as to what he thinks about the whole issue of Trump pressuring the Fed but he doesn't really give much away with his remarks. The interview has now ended and the key takeaway is that he didn't suggest anything for markets to pull back their rate cut expectations, which means we should expect a 25 bps rate cut at the very least in July.
