Fed Vice Chair Jefferson Signals Cautious Approach as Rates Near Neutral Level

Federal Reserve Vice Chair Philip Jefferson said on Nov. 7 that interest rates have moved closer to neutral territory and advocated for a measured pace in future adjustments, JinShi reports. Jefferson, who supported the October FOMC rate cut, noted signs of progress in core inflation moving toward the 2% target. He attributed recent lack of inflation progress to tariff impacts and stated that AI's economic effects remain too early to assess, adding he will determine his vote on a meeting-by-meeting basis.