WASHINGTON -The Federal Reserve’s “metric of success” on inflation is keeping expectations about future price increases anchored at 2%, Fed Vice Chair Richard Clarida said on Wednesday, and the central bank will respond if inflation expectations start to rise.
If a new Fed index of expectations were to “drift up persistently...that would indicate to me that policy would need to be adjusted.” “We are going to be very attentive to what we are seeing in the nexus between wages, productivity, prices and markups,” Clarida said.
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