Trade deal progress good for US economy: Fed's Clarida
Fed vice chairman on how China trade deal will impact US economy
Federal Reserve FONC vice chairman Richard Clarida covers U.S.-China trade, the U.S. labor force, the economy in 2020 and the economy in the past year during an exclusive FOX Business interview.
Federal Reserve Vice Chairman Richard Clarida told FOX Business' Liz Claman on Friday that, while it might be "too soon" to see if the "phase one" U.S.-China trade deal is good, "any reduction of uncertainty is a good thing."
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"I think uncertainty about trade policy has been a factor in the economy," Clarida said on "The Claman Countdown." "And so, any resolution of that uncertainty, assuming it's a good deal, is obviously a positive for the economic outlook."
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Along with trade, Clarida also stressed that the Federal Reserve continues to monitor all global developments.
"You've had a global slowdown this year," Clarida said. "The emerging markets have been slowing down … so it's not just any one thing that we're focusing on."
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Overall, Clarida believes the American economy is strong.
“The economy’s in a good place.”
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"We have the strongest labor market in 50 years," Clarida said. "We have low and stable inflation. We have solid growth, and our baseline outlook for the economy is more of the same in 2020."
Clarida said the U.S. consumer has "never been in better shape" during his career.
The FOMC wrapped its final meeting of 2019 this week leaving interest rates unchanged and signaled that the next rate hike will come in 2021 after the U.S. election.
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