November 1, 2019 / 2:20 PM / 16 days ago

Fed's Clarida says the U.S. economy is in good place after rate cuts

Nov 1 (Reuters) - The three rate cuts passed by the Federal Reserve this year leave the U.S. economy better armed to withstand the risks of a global slowdown, Fed Vice Chair Richard Clarida said on Friday.

Clarida pointed to positive reports on employment and housing as evidence that the U.S. economy is “resilient” to potential headwinds from the trade war and slower growth abroad.

“We’ve done the adjustment,” Clarida said in an interview on Bloomberg TV. “I would be less optimistic on the economy if we had not made those 75 basis point adjustments.”

But he said officials would continue to watch the data and consider more easing if there were to be disappointing reports on employment, inflation and growth. (Reporting by Jonnelle Marte Editing by Mark Heinrich)

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