Fed can afford to be patient as global growth forecasts decline, says Clarida

Richard Clarida
Britt Leckman

In a context of lower global growth forecasts, low inflation gives the US Fed time to pause and assess its policy stance in 2019, Fed vice-chair Richard Clarida said in a speech on January 10.

“With inflation muted, I believe the committee can afford to be patient as we see how the data evolves in 2019,” Clarida said in New York.

He acknowledged lower growth expectations globally, and tighter financial conditions over the last few months. These developments “represent crosswinds to the US

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