Fed’s Jefferson says economy near maximum employment
The Vice Chairman, Philip Jefferson, continues to cross the wires. He said that “inflation has resulted from a cascade of shocks” at the Darden School of Business, University of Virginia, Charlottesville, Virginia.
Philip Jefferson, the Vice Chairman of the Federal Reserve, has stated that the economy is nearing its maximum employment capacity. Speaking at the Darden School of Business, University of Virginia, Jefferson explained that inflation has been caused by a series of unexpected events. He emphasized that the Federal Reserve is committed to bringing inflation back down to its 2% target in a timely manner, and that the Fed is confident in its ability to do so.
The Fed remains prepared to take necessary actions to confirm inflation expectations. Currently, the Fed has more flexibility to focus on maintaining inflation at its target level.
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