Fed's Clarida: Would not agree that rate hikes are going too far or too fast

"I would not agree that Fed rate hikes are going too far or too fast," the Federal Reserve's new Vice Chairman Richard Clarida said in an interview with CNBC.

Key quotes

• Will set policy to meet Congressional goals.
• Gradual policy approach has served the Fed well.
• Policy rate is barely above inflation rate.
• Fed needs to be data dependent.
• Fed policy getting close to vicinity of neutral.
• Being at neutral would make sense.
• Some evidence of global slowing.
• Fed has to factor global slowing in global outlook.