Economics
Fed's Clarida Says Officials Must Closely Watch Global Risks
- U.S. financial markets and economy closely linked to world
- Brexit, slow growth and trade worries all counsel patience
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Federal Reserve Vice Chairman Richard Clarida said looming international economic risks would help keep the central bank on hold as officials try to assess what they mean for the U.S. economic outlook.
“U.S. policymakers can hardly ignore these risks,” Clarida said in the text of a speech he’s set to deliver Thursday in Paris. “In the presence of these risks and with inflation pressures muted, we can afford to be patient and data dependent as we assess in future meetings what adjustments in our policy rate might be necessary.”