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VC Clarida: Low Unemployment Alone Not Enough To Hike

FED

The Federal Reserve will do all it can to bring about low unemployment but that alone would not be enough to trigger interest rate hikes, Fed Vice Chair Richard Clarida said Wednesday, adding that "additional support from monetary -- and likely fiscal -- policy will be needed" to support the recovery..

A "low unemployment rate, in and of itself, will not be sufficient to trigger a tightening of monetary policy absent any evidence from other indicators that inflation is at risk of moving above mandate-consistent levels," he said in prepared remarks before the Institute of International Finance, echoing comments from San Francisco Fed chief Mary Daly overnight.

Click here for Clarida's full speech

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