Economics
Fed’s Clarida Says Months of 2% Inflation Needed for Liftoff
- The Fed vice chairman said meeting target can’t be fleeting
- Clarida repeats the Fed’s call for more fiscal aid for economy
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Federal Reserve Vice Chairman Richard Clarida said the central bank won’t consider raising interest rates from near zero until it actually achieves 2% inflation for at least a few months as well as full employment.
“We’re not going to even begin to think about lifting off, we expect, until we actually get observed inflation -- and we measure it on a year-over-year basis, equal to 2%,” Clarida said Wednesday in a Bloomberg Television interview with Tom Keene, Lisa Abramowicz and Jonathan Ferro. “That’s at least -- we could actually keep rates at this level even beyond that.”