Fed vice-chair says progress on inflation has stalled
Jefferson pushes for caution as US central bank lowers rates towards neutral
The vice-chair of the US Federal Reserve has said progress towards the central bank’s inflation target has stalled.
In a speech on November 17 at the Federal Reserve Bank of Kansas City, Philip Jefferson said the lack of progress “appears to be due to tariff effects, with signs that inflation excluding the effects of tariffs may be continuing to make progress toward 2%”.
Jefferson said some firms had indicated their intention to pass through price pressures from tariffs to consumers at the end of
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