In no rush to scale back degree of coverage restraint

(Reuters) – U.S. Federal Reserve Vice Chair Philip Jefferson on Wednesday stated he’s content material to maintain the central financial institution’s coverage fee in its present place till policymakers get a greater sense of the online results of the Trump administration’s insurance policies on tariffs, immigration, deregulation and taxes.

Even after 100 foundation factors of fee cuts within the latter a part of 2024, Jefferson informed college students at Swarthmore School that Fed coverage stays restrictive and is exerting downward strain on inflation.

“We could be affected person and wait to see the online impact of any coverage modifications by the present administration,” he stated.

(Reporting By Dan Burns; Enhancing by Sandra Maler)