Federal Reserve Vice Chair: If inflation doesn’t cool soon, policy stance may need reconsideration

Odaily Odaily reports that Federal Reserve Vice Chair Jefferson stated that if inflation does not cool quickly enough, interest rate hikes should be considered, but the current monetary policy stance is appropriate. In prepared remarks for an event at Stanford University in California, Jefferson indicated that the current interest rate setting could support the labor market while bringing inflation down. He added that if actual inflation does not begin to cool in the near term, it might be necessary to reconsider the current policy stance, which leaves the Fed well-positioned to respond to economic developments.