NewsBreak: Fed's Clarida Says Fed Taking Things 'Meeting by Meeting'

The Federal Reserve "isn't on a preset course" and will be "taking things meeting by meeting", vice-chairman Richard Clarida told CNBC Friday. Clarida also indicated that the Fed will soon take action to address the liquidity shortages that have plagued funding markets this week, but would not restart outright purchases of bonds, a program known as quantitative easing.

Key Quotes:

“We’re gonna take this meeting by meeting. We’re not on a preset course.”

Global economy has been "getting worse over the course of the year."

"I can't think of a time" when the U.S. consumer was in better shape.

Yield curve inversion partly caused by foreign inflows seeking higher rates.

Fed "still learning" about an economy operating at full employment.

Repeats Powell's assurances that negative rates aren't on the table.

Dollar Index Futures at 98.187, up 0.4% on the day.

10-Year Treasury yield at 1.77% vs 1.79% immediately before comments.