In a speech at the Cato Institute, Vice Chair...>

FED: In a speech at the Cato Institute, Vice Chair Clarida echoes comments Chair

Powell made Wednesday re labour market slack. Overall sounds on dovish side of

things though reiterating most of previous points on the Fed's Policy Review.

- "inflation expectations today do reside at the low end of a range I consider

consistent with our price-stability mandate"

- "although the labor market is robust, there is no evidence that rising wages

are putting excessive upward pressure on price inflation"

- Re the Fed's Policy Review..."we have not yet begun to consider potential

changes to communication practices, including the Committee's consensus

Statement on Longer-Run Goals and Monetary Policy Strategy"

- "the review is reassessing the case for [additional tools for easing policy

when the ELB is binding] in light of more recent experience in other countries"

- Full text here:

- https://www.federalreserve.gov/newsevents/speech/clarida20191114a.htm