“I myself believe that the standard of ‘further substantial progress’ has been more than met with respect to our price stability mandate and almost met with respect to our employment mandate,” he said Tuesday. Fed Vice Chairman Richard Clarida according Reuters.
Featured statements
“If the recovery continues, a gradual reduction in asset purchases will soon be warranted, ending in the middle of next year.”
“The decision on the pace of asset purchases will not be intended to convey a signal about the timing of the rise in interest rates.”
“America’s GDP growth this year could be the fastest since 1983.”
“The progress of the labor market has been remarkable.”
“The course of the labor market, the economy, continue to depend on the virus.”
“Inflation is ‘well above’ a moderate overshoot of the 2% target.”
“Core inflation close to 2% target; this year’s unwanted rebound will be largely transitory.”
“The risks to inflation are on the rise.”
“If inflation expectations were to go up and were persistently high, the Fed would react – that’s not the case today.”
Market reaction
The US Dollar Index It did not show an immediate reaction to these comments and was last seen up 0.08% on the day to 94.43.
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