Fed’s Jefferson
Fed Gov. Jefferson answering questions at his event this morning says:
- Economy has made a lot of progress, inflation has retreated.
- Labor market has been very resilient.
- I view the economy as in a solid position.
- The decline in inflation has attenuated
- Inflation is a source of concern.
- Is focused even more so on inflation given broader strength.
- It is appropriate that we maintain a policy rate in restrictive territory.
- Important to look for more evidence inflation is abating.
- It is appropriate to keep the policy rate restrictive until clear inflation adding.
Jefferson’s comments mentioned inflation on six separate headlines (out of 9). Clearly he’s concerned about inflation. Jefferson is a permanent voting member on the Federal Reserve as a result of being a governor.
I had of the US stock open, the NASDAQ futures are up 73 points. The S&P index is up 15.5 points or 0.30%.