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Fed Vice Chair Jefferson: rate cut aimed at keeping US job market strong

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Philip Jefferson,FOMC,Labor Market

'The FOMC has gained greater confidence that inflation is moving sustainably toward our 2% goal,' Jefferson said, referring to the rate-setting Federal Open ...

- Federal Reserve Vice Chair Philip Jefferson on Tuesday said the U.S. central bank's half-percentage-point interest-rate cut last month was aimed at keeping the labor market strong even as inflation continues to ease.

"Economic activity continues to grow at a solid pace. Inflation has eased substantially. The labor market has cooled from its formerly overheated state," Jefferson said. "My approach to monetary policymaking is to make decisions meeting by meeting," Jefferson said. "As the economy evolves, I will continue to update my thinking about policy to best promote maximum employment and price stability."BEIRUT — Hezbollah fired another barrage of rockets into Israel on Tuesday, and the militant group’s acting leader vowed to keep up pressure that has forced tens of thousands of Israelis from their homes near the Lebanese border.

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Fed commentary, PepsiCo earnings, GM: What to WatchFederal Reserve officials, including Atlanta Fed President Raphael Bostic and Vice Chair Phillip Jefferson, are expected to publish their latest commentary...
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