More from Fed's Clarida

Clarida is Vice Chair of the Federal Reserve System.

He spoke earlier on Wednesday, and is still going, more:

• says we are not going to hike until we actually get inflation to 2%
• asset purchases are an important part of Fed strategy
• we are not going to lift off until we get to 2% inflation for a year and labor market conditions have reached levels consistent with the FOMC's assessment of maximum employment
• when it comes time to raise rates, we won't have far or long to go until we reach neutral

Earlier in the week we got, once again, remarks from various Fed officials on tapering QE sometime this year. Clarida addresses in his remarks above when to expect a rate hike - says after a year of 2% inflation. That is not on the foreseeable horizon right now.