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Federal Reserve Vice Chair Jefferson Suggests No Need for Policy Adjustment in the Near Term
BlockBeats News, February 7th, Federal Reserve Vice Chair Jefferson said that the current interest rate stance of the central bank is "completely appropriate" for the sound economic conditions, indicating that he is not in a hurry to restart the rate cuts paused by the Fed in January. Jefferson pointed out that although the inflation rate has been consistently above the Fed's 2% target, it is expected that later this year, the downward trend in the inflation rate will reappear.
At the same time, he estimated that the overall economic situation is good, with the economic growth rate expected to reach about 2.2% in 2026. He stated: "I see some signs that the labor market is trending towards stability, inflation is expected to return to our target level of 2%, and sustainable economic growth will continue." Jefferson said that the three rate cuts implemented by the Fed from September to December last year adjusted the rate to a range of 3.5% to 3.75%—close to the market's expectations of the 'neutral level,' a level that neither stimulates nor restrains the economy. He pointed out that this stance has struck a reasonable balance between the two major risks facing the central bank. (Xinhua News)
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