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Fed's Clarida: Economy has good momentum; Fed can be 'very patient' this year

In an interview with Fox, Federal Reserve's Vice Chairman Richard Clarida said that he didn't see a recession on the horizon.

Key quotes (via Reuters)

  • Not case that Fed policy is a headwind for U.S. Economy.
  • Economy has good momentum; Fed can be 'very patient' this year.
  • December rate hike was the right decision.
  • FOMC will take policy decisions 'meeting by meeting'; some global data has been softening.
  • Slowdown in global outlook not yet 'severe', but would tend to impact U.S. Exports.
  • 'Won't hesitate' to adjust asset-portfolio runoff if needed.

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