Vice Chair Clarida: If economy slows, Fed will implement policy to keep it in a ‘good place’

FAN Editor

Federal Reserve Vice Chairman Richard Clarida said the economy is in a good place but he and the rest of the Fed are willing to take action if conditions change.

“We will put in policies that need to be in place to keep the economy, which is in a very good place right now, and it’s our job to keep it there,” the central bank official told CNBC’s Steve Liesman in a live interview from a Fed conference in Chicago.

Clarida spoke as financial markets anticipate at least two interest rate cuts before the end of the year. The Fed’s most recent forecast is to leave rates unchanged, but recent pressures from the escalating trade war and turbulence in the bond market have goosed market expectations.

This is breaking news. Check back here for updates.

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