April 11, 2019 / 2:25 PM / 2 months ago

Clarida: Fed responsible to Congressional mandate

WASHINGTON (Reuters) - The U.S. Federal Reserve is answerable to the mandates set for it by Congress, currently stable prices and maximum employment, Fed vice chairman Richard Clarida said on Thursday.

Asked about outside political pressure, Clarida, avoiding mention of President Donald Trump’s call for rate cuts, said “the Fed’s mandate is assigned to it by Congress, and we have a very black and white mandate that is assigned us.”

Reporting by Howard Schneider; Editing by Chizu Nomiyama

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