Feds Clarida and Mester prepared remarks before speaking on a panel in New York

Board of Gov. Clarida says:

  • He looks at asset prices, but never in isolation and balanced against other signals for policy path
  • Persistent shifts in financial markets can be informative for monetary policy
  • Sees survey evidence as important as financial market signals in assessing policy rate, inflation expectations
  • When signals from markets, surveys, and models line up, the effects on his thinking is more material than when they conflict

Feds Mester:

  • FOMC statement can be longer with less boilerplate text
  • policy should not yield to market if views don't align
  • FOMC statement should say more on policy, outlook, risk

There are no comments released from Atlanta Fed Pres. Bostic.