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### POV: CLARITY FROM CLARIDA? - Fed Vice.......>

FED
FED: ### POV: CLARITY FROM CLARIDA? - Fed Vice Chair Richard Clarida being
interviewed today (Friday) on BBG at 0630ET/1130UK time - first Fedspeak since
Powell's presser on Wednesday and a late addition to the calendar.
- What will Clarida discuss? Is there a chance he rows back on mkt FOMC reac?
- It seems unlikely Clarida will temper mkt conviction on easing. Seems more
likely he will offer more colour on the inflation expectations and int'l econ
weakness (Powell`s `crosscurrents`) to offer more colour to FOMC's thinking.
- Re the latter, a quote from his FT column in 2016(before his FOMC  days)making
the rounds: `In a world of global capital flows there will be a limit to how far
US rates can diverge from global interest rates without triggering volatility in
markets and a much stronger dollar that reduces exports`.
- Has said what happens in Beijing almost as important as in D.C. for US yields.
- Notable, as Powell waffled a little on the ECB easing Q at the presser.
- On inflation, he is overseeing the Fed`s framework review and has suggested
`makeup` strategies on inflation. Could discuss in more detail Powell`s concerns
about `a more sustained shortfall of inflation`.

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