Fed's Clarida speaking in Washington DC
- US economy at or close to Fed's twin goals
- sees no evidence rising wages causing excess inflation
- inflation close to 2% goal, expectations at low-end
- US inflation expectations reside at low-end of range he considers consistent with Fed's price stability mandate
- no evidence rising wages are putting excessive upward pressure on inflation
- he thinks natural rate of unemployment extends 24% and below and includes current unemployment rate of 3.6%
- makeup strategies on inflation lead to better than average performance on both legs of dual mandate
- increase prime age participation a factor in restraining inflationary pressures
