Fed's Clarida: Economy "at or close to" Fed's objectives on inflation and unemployment

In his prepared remarks for delivery at an economic conference in San Francisco, Fed Vice Chair Richard Clarida said that the U.S. economy was "at or close to" the Fed's objectives on inflation and unemployment, as reported by Reuters.

Clarida further said that he regarded inflation as "muted" but saw inflation expectations as "stable."

"With economy in a very good place, The Fed can afford to monitor incoming data before making a decision on any further changes to target interest rate," Clarida added. "Financial market information can provide a reality check for officials, but can also be noisy and must be supplemented with information from surveys and good judgment of officials."