Free Trial

MNI BRIEF: Fed's Jefferson-Need More Evidence Inflation Easing

(MNI) WASHINGTON

Fed's vice chair says he's concerned about lack of inflation progress in the first quarter of 2024.

Federal Reserve Vice Chair Philip Jefferson said Monday he would like more evidence inflation is resuming its decline back to 2% after stalling early this year before considering interest rate cuts.

"The decline in inflation has attenuated in the first quarter of this year and that for me is a source of concern," Jefferson told a conference sponsored by the Cleveland Fed. "It is appropriate that we maintain the policy rate in restrictive territory, which it is right now, and that we continued to look for additional evidence that inflation is going to return to our 2% target."

Keep reading...Show less
140 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Federal Reserve Vice Chair Philip Jefferson said Monday he would like more evidence inflation is resuming its decline back to 2% after stalling early this year before considering interest rate cuts.

"The decline in inflation has attenuated in the first quarter of this year and that for me is a source of concern," Jefferson told a conference sponsored by the Cleveland Fed. "It is appropriate that we maintain the policy rate in restrictive territory, which it is right now, and that we continued to look for additional evidence that inflation is going to return to our 2% target."

Keep reading...Show less