Every Fed Meeting Is Now 'Live,' Pimco's Clarida Says

• Fed Chair Powell emphasized the 2% PCE inflation objective as a firm, fixed target.
• Recent improving inflation data is not considered a material trend by the Fed.
• The Fed is prepared to hike rates if inflation does not move to 2% with speed, and every meeting is 'live'.

Richard Clarida, former Fed Vice Chairman, expressed satisfaction with Fed Chair Powell's speech at Jackson Hole, emphasizing the Fed's commitment to its 2% PCE inflation target. He noted that recent improving inflation data isn't seen as a material trend by the Fed, and they are prepared to hike rates further if inflation doesn't move towards the target with speed. Every Fed meeting, including September, is considered 'live' for policy decisions.