The Federal Reserve is 'on track' to doing what is necessary to meet the two mandates Congress has given it, Fed Governor Philip Jefferson said on Friday: bring inflation down and enable Americans who want jobs to get them.
Federal Reserve Governor Philip Jefferson speaks at a monetary policy conference at the Hoover Institution, in Palo Alto, California, U.S. May 12, 2023. Earlier in the day he was nominated by U.S....PALO ALTO, Calif., May 12 - The Federal Reserve is "on track" to doing what is necessary to meet the two mandates Congress has given it, Fed Governor Philip Jefferson said on Friday: bring inflation down and enable Americans who want jobs to get them.
"Is inflation still too high? Yes," Jefferson said in remarks prepared for delivery to a monetary policy conference at the Hoover Institution. "Has the current disinflation been uneven and slower than any of us would like? Yes. But my reading of this evidence is that we are 'doing what is necessary or expected' of us."Earlier in the day Jefferson was nominated by U.S. President Joe Biden to be the next Fed vice chair, a key role in shaping U.S. monetary policy.
Meanwhile, he said, "monetary policy affects the economy and inflation with long and varied lags, and the full effects of our rapid tightening are still likely ahead of us."
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fed: Biden nominates Jefferson for Vice Chair and Kugler as governorThe White House announced that President Biden has nominated Philip Jefferson for Vice Chair and Adriana Kugler as a Member on the Board of Governors
Leer más »
President Biden announces nominations for key positions at Federal ReserveU.S. President Joe Biden nominated Philip Jefferson as Fed vice chair, Adriana Kugler as a Fed board member, and current Fed governor Lisa Cook for a full term.
Leer más »
Biden announces two historic nominations to Fed boardPresident Biden announced two key nominations to the Federal Reserve Board, naming the first Latina governor and second Black vice chair at the central bank.
Leer más »
Biden names historic Fed picks as inflation fight wears onFed policymakers have suggested they plan to hold borrowing costs at punishingly high levels until spending and investment slow enough to bring inflation back down toward their 2 percent target.
Leer más »
Biden nominates first Hispanic banker to Fed board amid historic picksPresident Joe Biden has nominated Federal Reserve Governor Philip Jefferson, 61, to become the central bank’s vice chair — making him No. 2 to Fed Chair Jerome Powell. Adriana D. Kugler…
Leer más »