Key Fed official sees rates liftoff in 2023 as policy debate heats up

Published by
Reuters

By Lindsay Dunsmuir and Ann Saphir WASHINGTON (Reuters) – Federal Reserve Vice Chair Richard Clarida, a key architect of the U.S. central bank’s new policy strategy, said on Wednesday an interest rate hike was likely in 2023 given the surprising pace of the economic recovery from the coronavirus pandemic. He was joined by two other policymakers in signaling a desire to move soon to start reducing the Fed’s massive bond-buying program as well, though one of them – Dallas Fed President Robert Kaplan – was clear he viewed an earlier taper of the central bank’s $120 billion in monthly asset purcha…

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