Fed vice-chair says economic uncertainty ‘especially high’
Jefferson says both sides of central bank’s mandate are under pressure because of Trump’s policies
Uncertainty around the base case economic outlook for the US is “especially high” owing to the policies of president Donald Trump’s administration, a vice-chair of the Federal Reserve has said.
In a speech on September 30 at a conference hosted by the Bank of Finland, Philip Jefferson warned that both sides of the Fed’s mandate – maintaining price stability and maximum employment – were “under pressure”.
Jefferson said he expected the effects of tariffs on employment, inflation and the wider
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