Clarida speaks on Fox business network
- US economy is in a good place but uncertainties have increased
- Fed will act as appropriate to keep the economy growing
- Data has been mixed, but global data is disappointing
- Inflation data has been coming in on the soft side
- Monetary policy operates with a lag, we look at risks
- You don't necessarily want to wait until data turns
- Baseline view is for PCE core to move up toward 2%
- Need to set policy for baseline view and risk management
- uncertainty on trade policy hitting confidence
- limit to how far US rates can divert from global
- FOMC just focused on doing our job and dual mandate
- research shows you actpreemptively when you can (that sentiment was expressed by Feds Williams as well)
More dovish comments from a Fed Board member (voting member). Interesting is the comment about US rates vs global rates.
The comments more or less echo those of Fed's Williams.