Comments from Clarida on Bloomberg TV
- Fed expects to keep rates lower for longer
- Judgement on any inflation overshoot will be made closer to the time
- US needs to spend 'some time' with inflation above 2% to offset time spent below it
- US should see a "pretty impressive" return of low unemployment
- Overshooting of inflation an "academic point" until economy recovers
- Additional fiscal support will likely be needed for US recovery
This is taking on a dovish tone because of some of the things said yesterday but these comments are watering down the forward guidance.
