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MNI BRIEF: Fed's Jefferson - Can Be Patient On Tariff Effects

Fed Vice Chair speaks at Swarthmore College.
USCentral Bank NewsPolicy NewsHomepageFederal ReserveEM Policy NewsEM BriefBriefStoryNorth America

MNI (WASHINGTON) - The Federal Reserve can take its time to gauge the impact of any new policies coming from the Trump administration, including tariffs, before reacting because monetary policy is still exerting a drag on economic activity, Fed vice chair Philip Jefferson said Wednesday.

"Policy is still restrictive with respect to its impact on the economy. The reason that’s important is that means there’s policy space for us to continue the fight against inflation," he told an event at Swarthmore College. "We can be patient and wait to see what the next effect of any policy changes by the current administration. We don’t have to react to changes to specific policies where it’s difficult for us to know how other policies will interact with other policies." (See MNI INTERVIEW: Trump Tariffs Risk Killing Manufacturing Recovery-ISM)

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MNI (WASHINGTON) - The Federal Reserve can take its time to gauge the impact of any new policies coming from the Trump administration, including tariffs, before reacting because monetary policy is still exerting a drag on economic activity, Fed vice chair Philip Jefferson said Wednesday.

"Policy is still restrictive with respect to its impact on the economy. The reason that’s important is that means there’s policy space for us to continue the fight against inflation," he told an event at Swarthmore College. "We can be patient and wait to see what the next effect of any policy changes by the current administration. We don’t have to react to changes to specific policies where it’s difficult for us to know how other policies will interact with other policies." (See MNI INTERVIEW: Trump Tariffs Risk Killing Manufacturing Recovery-ISM)