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First post-Jan FOMC Fedspeak with Vice Chair....>

FED: First post-Jan FOMC Fedspeak with Vice Chair Clarida on Bloomberg TV.
Begins by reiterating "good place" language, policy `appropriate`.
- "We`re not that far" from 2%, we project we`ll get back up there.
- Our job is not to move up/down with asset prices - we are not targeting them.
- Powell Fed sees benefits with low unemployment rate. Until we see it putting
upward pressure on inflation, we are not ready to call it full employment.
- Re coronavirus, we don`t have a crystal ball. It`s a wild card, too soon to
tell. Seeing how it translates to Chinese/global growth, and impact on U.S.
- Not concerned by yield curve inversion: that is driven not so much by outlook
for US economy, but in global uncertainty, money tends to flow into U.S.
- A one to two quarter slowdown in growth would not be reason for Fed to act.
- Climate change part of Fed`s financial supervision role.
- Fiscal policy is domain of legislature; we communicate with them.
- Re `material change`: MonPol acts with a lag, so it`s something that would
materially change the outlook for our dual mandate objectives. No one indicator.
- Consumer has never been in better shape in my career. Thank goodness.

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