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.