Fed’s Clarida is ‘bullish’ on U.S. outlook, policy setting appropriate

Fed’s Clarida is ‘bullish’ on U.S. outlook, policy setting appropriate

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

By Ann Saphir

(Reuters) – Federal Reserve Vice Chair Richard Clarida said on Wednesday that he’s “bullish” on the outlook for the U.S. economy and sees inflation at the Fed’s 2% goal by year’s end, after what he expects to be a temporary rise above that level before then due to “base effects.”

The Fed’s current monetary policy settings are appropriate now and “for the rest of the year” Clarida said in a virtual appearance before the American Chamber of Commerce in Australia. The biggest risk to the outlook, he said, is the course of the coronavirus.

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