The remarks reflected recent Fed commentary that officials will take a patient approach to monetary policy.
Federal Reserve Vice Chairman Richard Clarida affirmed in a speech Thursday that the central bank will continue to let data be the guide as to whether the central bank will continue to hike interest rates in the future.
The Fed hiked its benchmark interest rate four times in 2018 and has indicated two more increases are coming this year. However, officials recently have changed their tone and said that they'll need evidence in the data before feeling confident about any further increases. His remarks also were in line with those from Fed Chairman Jerome Powell this week, who also said the U.S. economy looks good but could take a hit from a global slowdown.
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