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Fed’s Richard Clarida Says It’s Too Soon to Speculate on Virus Spillover

  • Fed vice chairman says U.S. monetary policy in a ‘good place’
  • Virus will have noticable impact on China first-quarter GDP
Bloomberg business news
Clarida Says It's Still Too Soon to Speculate on Virus Impact
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It is “still too soon” to say whether the coronavirus outbreak will cause a material change in the U.S. outlook, said Federal Reserve Vice Chairman Richard Clarida, signaling officials won’t be rushed to judgment on the need to cut interest rates.

“Monetary policy is in a good place and should continue to support sustained growth, a strong labor market, and inflation returning to our symmetric 2% objective,” Clarida told the National Association for Business Economics in Washington on Tuesday. “As long as incoming information about the economy remains broadly consistent with this outlook, the current stance of monetary policy likely will remain appropriate.”