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Clarida: Models, Markets, and Monetary Policy
It is an honor and a privilege to participate once again in this annual Hoover Institution Monetary Policy Conference. The topic of this year's conference, "Strategies for Monetary Policy," is especially timely. As you know, the Federal Reserve System is conducting a review of the strategy, tools, and communication practices we deploy to pursue our dual-mandate goals of maximum employment and price stability. In this review, we expect to benefit from the insights and perspectives that are presented today, as well as those offered at other conferences devoted to this topic, as we assess possible practical ways in ... (full story)
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Fed’s Clarida says economy is ‘in a very good place’ and backs ‘patient’ approach to rates
Federal Reserve Vice Chairman Richard Clarida said Friday the U.S. economy is strong and interest rate policy is an appropriate place to support growth. Speaking at the Hoover Institution Monetary Policy conference at Stanford University, Clarida endorsed the Fed’s recent policy switch to “patience” in terms of implementing future rate hikes, and to data dependence as opposed to being on a preset course. “The U.S. economy is in a very good place,” the central bank official said in prepared remarks. “The unemployment rate is at a 50-year low, real wages are rising in line with productivity, inflationary ... (full story)
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