Clarida says that the economy is "in a very good place" and supports the "patient" approach

Vice President of the US Federal Reserve, Richard Clarida, said on Friday that the US economy was strong and that the interest rate policy was a suitable place to support growth.

Speaking at the Hoover Institution's monetary policy conference at Stanford University, Clarida endorsed the Fed's recent policy shift of "patience" to implement future rate hikes and depend on data rather than following a predefined course.

"The US economy is doing very well," said the head of the central bank in a prepared statement. "The unemployment rate is at its lowest for 50 years, real wages are rising in line with productivity, inflationary pressures are moderate and expected inflation is stable."

Alongside these conditions, the Fed's benchmark rate is about the level that policymakers consider neutral – neither stimulating nor restrictive for growth.

Clarida spoke just hours after the Labor Department announced another strong month for job growth, with an increase of 263,000 in unpaid payroll and an unemployment rate falling to 3, 6%, the lowest since 1969. This unemployment rate is close to what it is currently. considered full employment.

"So, with an economy close to or very close to the goals of the Fed's dual mandate and the close interest rate of the FOMC participants' neutral valuation, we can, I believe, allow us to depend on the data. as we assess what additional adjustments in our policy might be needed to maintain our twin mandate goals: maximum employment and price stability, "he said.

Earlier in the week, the Federal Monetary Policy Committee on the open market decided to keep the funds rate within a target range of 2.25% to 2.5%. Fed Chairman Jerome Powell said he did not see the need to raise rates or lower his rates because he expects the bottom figures of the company to be cheaper. 39, inflation return to about 2% of the central bank's target.