Central Banks
Fed’s Jefferson Says Officials Should Move Cautiously With Rates
- Vice chair sees no need to hurry with next policy move
- Expects inflation to continue along slow, downward path
Philip Jefferson
Photographer: Al Drago/BloombergThis article is for subscribers only.
Federal Reserve Vice Chair Philip Jefferson said it’s appropriate for policymakers to be cautious in adjusting interest rates, as long as the economy and labor market remain strong.
“I continue to see a gradual reduction in the level of monetary policy restraint placed on the economy as we move toward a more neutral stance as the most likely outcome,” Jefferson said in remarks prepared for an event Tuesday at Lafayette College in Easton, Pennsylvania. “I do not think we need to be in a hurry to change our stance.”