US Federal Reserve Vice Chairman Richard Clarida spoke to Money Marketeers in New York, delivering his thoughts on the Fed's stance heading into 2019.
Fed policy should respond to economic 'crosswinds' if they continue.
Financial conditions have tightened materially, and global growth prospects have definitely moderated.
Fed can afford to be patient, assess 2019 data as it comes out before deciding how to adjust policy.
US economic conditions remain favourable for the time being; expecting above-trend growth to continue.
Fed "will not hesitate" to make adjustments to asset-offloading strategy.
Recent data weakness infers that overall inflation may not yet be sustainable over 2%.
US monetary policy is not on a preset course.
Prudent to wait until after global slowdown impacts US economy before adjusting course.
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