Clarida says Fed won’t raise rates until its sees 2% inflation

Clarida says Fed won’t raise rates until its sees 2% inflation

©
Reuters.
FILE
PHOTO:
Federal
Reserve
Vice
Chair
Richard
Clarida
talks
on
the
phone
during
the
three-day
“Challenges
for
Monetary
Policy”
conference
in
Jackson
Hole

(Reuters)

Federal
Reserve
Vice
Chair
Richard
Clarida
on
Wednesday
reiterated
that
the
U.S.
central
bank
won’t
raise
interest
rates
until
inflation
reaches
2%,
and
he
expressed
confidence
that
market
participants
believe
in
that
promise,
a
key
element
in
the
Fed’s
strategy.

“We
are
not
going
to
lift
off
until
we
get
inflation
at
2%
for
a
year.

We
are
trying
to
tie
our
hands.
We
are
saying
we
are
not
going
to
hike
until
we
get
to
2%,”
Clarida
told
a
conference
held
by
the
Hoover
Institution.
“It
actually
doesn’t
seem
lacking
credibility
to
markets
that
we
are
going
to
do
that.”


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