Fed Vice Chairman Richard Clarida: Too early to speculate on coronavirus
|Fed Vice Chairman Richard Clarida speaking at the 36th Annual NABE Economic Policy Conference, Washington, D.C.
US Economic Outlook and Monetary Policy
Thank you for the opportunity to participate again this year in the Annual Economic Policy Conference of the National Association for Business Economics. I am really looking forward to this conversation. But first, I would like to share with you some thoughts about the outlook for the U.S. economy and monetary policy...
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Key comments
Fed's Clarida says it's still too soon to speculate on whether coronavirus will lead to a material change in u.s. economic outlook.
Clarida says Fed is 'closely monitoring' coronavirus outbreak.
Clarida says disruption from the coronavirus could spill over to rest of global economy.
Clarida says coronavirus will likely have a noticeable impact on Chinese growth, at least in first quarter.
Clarida says the US economy and monetary policy are in a good place.
Clarida says as long as incoming information remains broadly consistent with fed's outlook, current stance of monetary policy will remain appropriate.
Answering questions
- Clarida says virus is rapidly evolving but still too soon to see how it will impact global and US economic activity.
- Fed has taken policy by a meeting by meeting basis.
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