FOMC

It’s too soon to judge the potential impact of the coronavirus outbreak on the U.S. economy or consider a monetary policy response, Chicago Fed President Charles Evans said.

Republican Senator Pat Toomey said he’ll support President Donald Trump’s nomination of Judy Shelton for the Federal Reserve Board.

Attention is focused on the impact COVID-19 may have on economic growth in the United States in the short and long term.

It is “still too soon” to say whether the coronavirus outbreak will cause a material change in the U.S. outlook, said Federal Reserve Vice Chairman Richard Clarida, signaling officials won’t be rushed to judgment on the need to cut interest rates.

Three key Republicans on the Senate Banking Committee said Monday that they remain undecided on President Donald Trump’s nomination of Judy Shelton to the Federal Reserve Board.

Federal Reserve Vice Chairman Richard Clarida disputed suggestions that the central bank suffers from a “hall of mirrors” problem under which it slavishly follows financial-market expectations for monetary policy.

The suite of new monetary policy tools under consideration by the Federal Reserve are likely to have limited effectiveness in the next downturn.

Federal Reserve Governor Lael Brainard on Friday called for the adoption of new strategies by the central bank to achieve its 2% inflation goal and fight off future recessions.

Federal Reserve Vice Chairman Richard Clarida took issue with suggestions that investors expect the central bank to cut interest rates in the middle of this year as he called the economy fundamentally sound.

Little hint as to direction of future monetary policy moves.