Ex- Federal Reserve Vice Chair Richard Clarida spoke on Monday
Says risks to growth are skewed to the downside, reasoning:
- its more difficult for central banks to get inflation back to target than it was in the past 15 years due to supply shocks
- "We think we're going to be in a world in which, at the margin, there's probably going to be less policy support provided in economic downturns than we've seen... We're seeing some early evidence of what we call (quantitative easing) fatigue,"
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Less policy support from central banks is gonna be a brave new world if Clarida is correct.
S&P not feeling it right now though.
