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Fed Officials Shake Markets With Rate Cut Comments

  • Vice chair Clarida reinforces dovish remarks from Williams
  • New York Fed walks back Williams comments as only ‘academic’
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Markets See Fed as 'Guardians of the Economy': Schwab's Kleintop
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Two senior Federal Reserve officials stressed the need to act quickly if the U.S. economy looked likely to stumble, reinforcing bets the central bank could cut interest rates by as much as half a percentage point later this month.

Fed Vice Chairman Richard Clarida and New York Fed chief John Williams buoyed stocks with their dovish remarks Thursday afternoon, in some of the final comments from central bankers before they enter their blackout period ahead of a July 30-31 policy meeting.