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Federal Reserve’s Vice Chairman Richard Clarida said on Wednesday that he sees the asset market pricing as consistent with expectations for robust economic growth, as reported by Reuters.

Additional takeaways

“Not expecting sustained upward inflation pressures.”

“The Fed has tools to achieve, keep inflation consistent with the price stability mandate.”

“Inflation, employment are well below the Fed’s goals.”

“Monetary policy can’t eliminate variation in inflation but can keep expectations anchored.”

“Support from fiscal policy should accelerate the pace of progress toward the Fed’s goals.”

Market reaction

The market mood remains upbeat following these remarks and the S&P 500 Index was last seen gaining 0.91% on a daily basis at 3,916.

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