Fed's Clarida: Yield curve inversion reflects global uncertainty rather than US outlook

Commenting on the recent inversion of the yield curve, Federal Reserve Vice Chairman Richard Clarida said that he was not worried about it and argued that it was a product of global uncertainty rather than the US outlook.

"The US economy is in a good place, inflation is stable," Clarida added. "There is not one single indicator that would trigger a material change to the US economic outlook."

Regarding the coronavirus crisis, Clarida said it was a "wildcard" and that it was too soon to tell what impact it's going to have on the global economy.

USD reaction

The USD ignored these comments and the US Dollar Index was last down 0.4% on the day at 97.46.