Economy

Clarida reinforces Fed's mantra of US policy patience

Key Points
  • The Federal Reserve is set to take a “patient” approach to policy decisions this year given there is good U.S. economic momentum but also a slowdown overseas, Fed Vice Chairman Richard Clarida said in a television interview on Monday.
Richard Clarida, vice chairman of the U.S. Federal Reserve, speaks during a discussion at the Peterson Institute for International Economics in Washington, D.C., U.S., on Thursday, Oct. 25, 2018.
Andrew Harrer | Bloomberg | Getty Images

The Federal Reserve is set to take a "patient" approach to policy decisions this year given there is good U.S. economic momentum but also a slowdown overseas, Fed Vice Chairman Richard Clarida said in a television interview on Monday.

"We can afford to be patient in 2019, there is good momentum," he said on Fox Business Network, adding U.S. central bankers will decide interest rates on a "meeting by meeting" basis in the months ahead.

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Key Points
  • The U.S. economy "feels good" and shows no sign of a recession in the next 12 months, says Lutnick, also CEO of Cantor spinoff BGC Partners.
  • "This is just not your grandmother's economy," he argues, citing what he calls the "easiest monetary policy in the history of modern finance."