Fed’s Clarida says U.S. economy in ‘good spot,’ can be patient

DALLAS (Reuters) – The U.S. economy is in a “good spot” now, Federal Reserve Vice Chair Richard Clarida said on Monday, operating at near full employment and with inflation near the Fed’s 2-percent goal.

Since inflation is muted, the Fed “can be patient” on deciding where to set interest rates, Clarida told Dallas Fed President Robert Kaplan in an interview at the Dallas Fed’s headquarters before an audience that included local business leaders and several Fed policymakers.

The Fed raised rates four times in 2018, but last month said it would be patient in deciding when to tighten policy again, if at all. Investors interpreted the move as indicating that the Fed’s three-year push to raise rates had ended.

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