Fed vice-chair says rate cuts most likely over medium term
Jefferson says inflation and labour risks are in balance and cautions against immediate policy shift
Cuts to take the federal funds rate towards neutral are most likely to occur over the medium term, according to the vice-chair of the US Federal Reserve.
In a lecture on February 4 at Lafayette College in Pennsylvania, Philip Jefferson said he was making his projections with a high level of uncertainty, and forecasters had often been surprised in recent years.
“I see the risks to achieving our employment and inflation goals as being roughly in balance, and I am attentive to the risks to both sides
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