Jefferson Says Fed Should Hold Rates Until Inflation Eases
- He noted the concerning lack of inflation progress in 2024
- Diverging comments can lead to misinterpretation about policy
Philip Jefferson
Photographer: Al Drago/BloombergThis article is for subscribers only.
Federal Reserve Vice Chair Philip Jefferson said it’s appropriate to keep interest rates steady until there is additional evidence that inflation will return to the central bank’s 2% target.
Jefferson, who described Fed policy as restrictive, said he finds the lack of inflation progress in the first quarter concerning.