Economics
Clarida Says Fed Awaits ‘Hard Numbers’ on Jobs, Prices for Move
- Monetary policy has evolved to become outcome-based, he says
- Inflation increase likely to be transitory, may return to 2%
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Federal Reserve Vice Chair Richard Clarida said policy makers will await evidence on whether they’re reaching their goals on price stability and employment before adjusting monetary policy.
“It’s not projective progress -- it’s hard numbers on the labor market and on prices” that the Fed is looking for, Clarida said Friday in an interview on Bloomberg Television with Jonathan Ferro and Tom Keene. “It’s an evolution, but it’s a robust evolution and primarily is outcome-based.”