Clarida Says Fed Won’t Raise Rates Until It Sees 2% Inflation By Reuters

© Reuters. FILE PHOTO: Federal Reserve Vice Chairman Richard Clarida speaks on the phone during the three-day “Challenges to Monetary Policy” conference in Jackson Hole.

(Reuters) – Federal Reserve Vice Chairman Richard Clarida reiterated on Wednesday that the US central bank will not raise interest rates until inflation reaches 2%, expressing confidence that market participants believe on that promise, a key element in the Fed’s strategy. “We’re not going to take off until we have 2% inflation for a year … We’re trying to tie our hands. We’re saying we’re not going to go up until we get there. 2%, “Clarida told a conference held by the Hoover Institution. “Actually, the markets don’t seem to lack credibility that we’re going to do that.”

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