Philip Jefferson will give a lecture during the confirmation of the Senate Bank, Housing, and the Urban issue committee on February 3, 2022 at Washington DC. , To the Federal Preparatory Committee.
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Pennsylvania’s Easton -Federal Reserve Vice -Chair Philip Jefferson said on Tuesday that the Central Bank should be aware of how to adjust interest rates in uncertain policy environments.
In a widespread range, the Fed Governor said that the Economy was strongly looking at the central bank’s 2 % goal and the “bumpy” road to the “solid position” of the “solid position”.
However, Jefferson reflects a recent statement from other officials that moving slowly when evaluating the evolving conditions is the biggest concern of the Fed.
“As long as the economy and labor markets are powerful, I believe that the (federal public market) committee will make further adjustments,” he said in a speech at Lafayet College. I mentioned.
“In the middle term, as the most likely, the level of monetary policy restraint, which is imposed on the economy, is gradually decreasing,” said Jefferson, “said Jefferson. “I don’t think you need to be in a hurry to change your stance.”
This remark was made in less than a week after the FOMC voted for stabilizing the policy rate in a range of 4.25 % to 4.5 %. This is the decision that Jefferson agreed. In the previous three conferences, the committee had hiked rapidly to fight the rapid increase in inflation, and then reduced the federal funding rate by 1 %.
The Fed authorities are refraining from commenting on policy collisions in Washington, but have expressed their fears of trying to ahead.
The main thing at the current uncertainty level is the impact of tariff negotiations between the United States and its major trading partners. President Donald Trump has paused for its duties for Canada and Mexico products, but has been trapped in a tense battle with China.
“Economic forecasts are constantly uncertain, and we are currently facing the accurate form of government policies and its economic meaning,” said Jefferson.
For the past year, Fed’s favorite inflatage -personal consumption expenditure price index is low. This rate increased by 2.6 % in December year -on -year.
Jefferson said he had hedged his outlook, expecting inflation will continue to decline.
“In the current environment, I have a highly uncertainty to my prediction,” he said.
Policy proprieters added that if inflation rises or when the labor market is weakened, the Fed can relieve more things, “you can imagine various scenarios for future policies.”
