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- VC of the U.S. Fed, Jefferson, is in no rush to change the central bank’s policy rate.
- The funds rate currently stays unchanged at 4.25%-4.50%.
- The Fed wants to assess the “net effect” of Trump’s policies before making a move.
Vice Chair of the U.S. Federal Reserve, Philip Jefferson, said on Wednesday that he’s in no rush to change the central bank’s policy rate.
According to a Reuters report, the VC mentioned that the current policy is restrictive despite cutting rates by 100 basis points in late 2024.
The Federal Reserve wants to stay on hold for now and assess the “net effect” of Trump’s policies on immigration, taxes, deregulation, and tariffs before making any further moves.
He said, “We can be patient and wait to see the net effect of any policy changes by the current administration.”
Earlier, after the FOMC meeting on January 28th, the Fed decided to stick with the 4.25%-4.50% funds rate. In a press release following the meeting, the Fed stated, “The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate.”
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Noor Bazmi
Noor Bazmi contributes to Cryptopolitan news team equipped with a Media Studies degree. Noor covers news on blockchain, cryptocurrency, artificial intelligence, Big Tech, EV markets, global economics, and government policy shifts. She is taking studies in marketing to connect with global audiences.
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