Federal Reserve Vice Chairman Jefferson: monetary policy still remains restrictive

Golden Finance reported that Federal Reserve Vice Chairman Jefferson stated that monetary policy still remains restrictive. The U.S. economy is performing quite strongly; the U.S. labor market is stable, inflation has slowed but remains high, and the path back to the 2% inflation target may be bumpy; the Fed can wait when considering the next steps in monetary policy; the Fed’s interest rate cuts are actually dropping the real borrowing costs.