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Feb. 20, 2020, 9:09 a.m. EST

Fed's Clarida: Economic outlook is 'a good picture'

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By Greg Robb

The fundamentals of the U.S. economy are solid and the outlook "is a good picture," said Federal Reserve Vice Chairman Richard Clarida on Thursday. The strongest labor market in 50 years is a "huge positive" and inflation close to the central bank's goals, Clarida said, in an interview on CNBC. Clarida said the Fed continues to watch COVID-19 closely, but it is too soon to say how the outbreak might impact the U.S. economy. Fed officials have signaled they want to keep interest rates on hold unless there is a material reassessment of the outlook.

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