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Additional comments from the Federal Reserve’s Vice Chairman Richard Clarida continue to cross the wires.

Key quotes (via Reuters)

  • As policy moves towards neutral estimates need to be more data dependent, not on pre-set course.
  • Focused on inflation expectations.
  • Not returning to pre-crisis portfolio size.
  • Want to operate with smallest balance sheet possible while still achieving objectives.
  • Balance sheet plan very effective, well communicated.
  • There are abundant excess reserves.