Former Fed Vice Chair Rich Clarida stated that recent data indicates pressure in core inflation is more broadly based and not just a pass-through from energy prices.

Rich Clarida noted that Federal Reserve Chairman Kevin Warsh has spent the last 15 years criticizing the Fed's large balance sheet.

Former Fed Vice Chair Rich Clarida was not surprised that Chairman Kevin Warsh might not have submitted a dot plot projection.

Rich Clarida notes that Fed Chair Kevin Warsh has spent the last 15 years criticizing the Federal Reserve's large balance sheet.

Rich Clarida believes the hawkish reassessment by some FOMC members is due to recent data suggesting core inflation pressure is broadly based and not just a pass-through from energy prices.

Former Fed Vice Chair Rich Clarida was surprised that nine FOMC participants projected a rate hike, which was more than he had anticipated.

The final sentence of the Federal Reserve's statement, "the committee will deliver price stability," omits any mention of the full employment mandate.