NEWS： Deputy chairman of the Federal Reserve Clarida said the Federal Reserve cut inte
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Clarida, vice chairman of the Federal Reserve, said Friday that the Fed's three rate cuts this year have enabled the U.S. economy to better cope with the risk of slowing global economic growth, further justifying the maintenance of interest rates in the short term.
Clarida pointed out that optimistic employment and real estate data showed that the U.S. economy has "resilience" and can cope with the drag that the trade war and the slowdown of overseas economic growth may bring to the U.S. economy.
"We have made adjustments," Clarida said in an interview with Bloomberg TV. "Without these 75 basis points, I would not be as optimistic about the economy as I am now."
Mr Clarida said the Fed was working to extend the longest economic expansion in the country's history. Fed officials voted this week to cut the target range by 0.25 percentage points to 1.50% - 1.75%. Clarida believes that the rate cut may have a greater impact on the economy by the end of this year and the first quarter of 2020.
Clarida made it clear that he thought there was still room for continued economic expansion in the US. He said that the US economy has not entered the late stage of the business cycle and consumer spending "has never been as good as it is now.".
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