Federal Reserve Vice Chair Philip Jefferson indicates potential prolonged high interest rates to combat persistent inflation.
Federal Reserve Vice Chair Philip Jefferson suggests interest rates may need to stay high for longer to help bring down persistently elevated inflation. Jefferson expects inflation to continue to slow this year, but if elevated inflation proves more persistent than he expects, he believes it will be appropriate to keep rates at their current level for a longer period. The comments open the door to the possibility that the Federal Reserve may not lower interest rates as much or as quickly as previously anticipated.
April 16, 2024
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