Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.

"Obviously, the global economy has worsened since our July meeting," Clarida told CNBC's Steve Liesman on Friday from the Fed's economic policy symposium in Jackson Hole, Wyoming. "The global economy is slowing and there's powerful disinflationary pressures."

However, Clarida said the U.S. economy is "in a good place," adding he doesn't see a heightened recession risk.

"I think you have to look at a broad range of indicators, but the ones I focus on are not signalling an elevated risk of a recession," Clarida said. "My guess is next year the economy will be at or above trend growth under appropriate policy."

Stocks plunged on Friday as the high-stakes trade war between the U.S. and China deepened, with the Dow Jones Industrial Average tumbling as much as 745 points. The critical spread between the 10-year Treasury yield and the 2-year yield also inverted amid the market turmoil, sending a recession warning.