Fed's of vice chairman Richard Clarida
- US economy, Fed policy is in a good place
- Repeats the Fed policy unlikely to change unless economic outlook changes
- Fed policy shift this year has provided significant support for the economy
- The full impact of Fed policy shift still to be felt given lagged effects of monetary policy
- Gobal risks to US economy still exists, attributes lagged of exports to global economic conditions, not value of the dollar
- Dollar value doesn't explain US export slowdown
- Fed would respond to material reassessment of outlook
- Trade weighted dollars near average of the past few years
- No sign of excessive upward pressure on inflation
- Baseline outlook favorable but faces downside risks
Meanwhile Fed's Quarrels is also commenting from a speech in New Haven Connecticut. He says:
- Fed policy stance likely to remain appropriate
- He is optimistic about US stock economic outlook
- Global weakness waiting on relative robust US
- Inflation close to goal, likely to inch toward target
- Fed policy stance likely to remain appropriate
- Business investment weakness of particular concern
