Federal Reserve Vice Chairperson Jefferson will speak on "central bank communications" in ten minutes.
Philip Jefferson, vice-chairperson of the Federal Reserve, said artificial intelligence tools could help transmit monetary policy, but cautioned against the limitations of such technology. Jefferson said research showed that automated analysis of Fed information and automated trading increased the speed at which information was incorporated into asset prices.
Jefferson, vice-chairperson of the Federal Reserve, said monetary policy remained restrictive. The US economy is performing quite strongly; the labour market is solid, inflation has moderated but remains high and the path back to its 2 per cent target could be bumpy; the Fed can wait as it considers its next move; and Fed rate cuts are reducing real borrowing costs.
Federal Reserve Vice Chairperson Jefferson said that even if the interest rate is cut by 100 basis points, the Federal Reserve's interest rate is still at a restrictive level.
Jefferson believes that Federal Reserve officials do not need to rush to take the next step in policy action, nor do they need to rush to change their stance. Click to view...
Federal Reserve Governor Jefferson: There is no need to rush to cut interest rates further. The strong economy makes it appropriate to respond cautiously.
Jefferson, vice-chairperson of the Federal Reserve, said the underlying trend was that inflation was falling towards the 2 per cent target; the cooling of the US job market was "orderly"; and the risks to the Fed's two missions were roughly balanced.
Federal Reserve Governor Jefferson: Keeping policy rates in a tight range is appropriate.
On April 16, Federal Reserve Vice Chairperson Jefferson said on Tuesday that if inflation did not slow as expected, "it would be appropriate to maintain the current restrictive policy stance for a longer period of time." "My underlying expectations remain that inflation will fall further, policy rates will remain unchanged at current levels, the labor market will remain strong, and labor demand and supply will continue to rebalance." "If the data show that inflation is more persistent than I cur...