Federal Reserve vice-chair Richard Clarida said on August 4 that he expected the Fed will be ready to raise interest rates in early 2023.

Clarida’s comments add to an intensifying discussion about when the Fed will begin tightening its very loose monetary policy and tapering quantitative easing. However, this tightening talk is by no means the consensus view yet among Fed leaders.

In a speech to the Petersen Institute for International Economics, Clarida reiterated the Federal Open Market