- Fed Vice Chair Philip Jefferson says the current federal funds rate (3.5%–3.75%) is “in the right place” and leaves the Fed well positioned to respond to incoming data.
- He expects inflation pressures to ease later this year but warns of upside risks from energy disruptions tied to the Middle East war and recent import taxes.
- Kevin Warsh was just sworn in as Fed chair, but Jefferson hasn’t pre-judged the June meeting—future rate moves remain uncertain even though Warsh previously signaled interest in cuts.
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