Central Banks
Fed Hikes Still in Play on Strong Economy, Pimco’s Clarida Warns
- Fiscal picture important driver of bond selloff, Clarida says
- Notes Fed Chair Powell ‘is doubling down on higher-for-longer’
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The Federal Reserve may have to raise interest rates further to fight stubborn inflation amid a resilient US economy, according to Pacific Investment Management Co.’s Richard Clarida.
“Progress on inflation has stalled since the summer, and we are not seeing labor market slack,” the former Fed vice chair told Tom Keene Thursday at Bloomberg’s ‘Future of Fixed Income’ conference in New York. “The good news for the Fed is that expected inflation is pretty well anchored.”