Finance

the Fed is ‘a long way from our goals’ and tightening policy

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Federal Reserve Vice Chairman Richard Clarida told CNBC on Wednesday that he thinks the central bank should keep its ultra-loose policy in place even as the U.S. economy storms back from its pandemic-era tumble.

In a “Closing Bell” interview, Clarida said he expects the economy to grow close to 7% for the full year, which would be the fastest pace since 1984.

He added that the jobs picture continues to improve, but still needs to progress considerably before the Fed will feel comfortable pulling back on all of the help it has provided since Covid-19 ended the longest expansion in U.S. history.

“We’re still a long way from our goals, and in our new framework, we want to see actual progress…



Source cnbc.com

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