Fed Vice Chair Philip Jefferson reiterated in a speech overnight that there is “no need to be in a hurry” to adjust policy further. Current policy settings are appropriately positioned amid a period of sweeping changes in trade, immigration, fiscal, and regulatory policies.
He stressed the importance of assessing the “cumulative effect” of these evolving policies before making any shifts in the monetary path.
Commenting on the new of import tariffs announced this week after the formal remarks, Jefferson acknowledged the heightened uncertainty such measures introduce, adding that they could weigh on household sentiment and business investment.
In this environment, Jefferson said it is important to “take our time and think carefully” as it evaluates the broader economic impact.
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