By Howard Schneider<\/p>\n
PHILADELPHIA (Reuters) -U.S. Federal Reserve Vice Chair Philip Jefferson reiterated on Friday that the U.S. job market could face stress if it is not supported by monetary policy.<\/p>\n
In remarks prepared for delivery at Drexel University’s LeBow College of Business, Jefferson largely repeated comments from earlier in the week that with inflation above the Fed’s 2% target and the job market seeming to weaken, “both sides of our mandate are under pressure.”<\/p>\n
“I see the risks to employment as tilted to the downside and risks to inflation to the upside,” with the quarter-point rate cut at the last Fed meeting appropriate as a way to support the job market with slightly easier monetary policy “while maintaining a balanced approach to promoting our dual-mandate objectives,” Jefferson said.<\/p>\n
He did not indicate if he favors a further quarter-point cut at the Fed’s meeting later this month, as anticipated by investors.<\/p>\n
He also noted he was speaking without the benefit of the September jobs data that, absent the federal government shutdown underway in the U.S., would have been available Friday morning.<\/p>\n
“This is less than ideal,” said Jefferson, while adding that he does not “focus on a single report” in deciding on monetary policy.<\/p>\n
(Reporting by Howard Schneider; Editing by Andrea Ricci)<\/p>\n","protected":false},"excerpt":{"rendered":"By Howard Schneider PHILADELPHIA (Reuters) -U.S. Federal Reserve Vice Chair Philip Jefferson reiterated on Friday that the U.S.…\n","protected":false},"author":2,"featured_media":187856,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[45,49,48,94227,2071,94226,100,4990,94225],"class_list":["post-187855","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-ca","tag-canada","tag-drexel-university","tag-federal-reserve","tag-lebow-college-of-business","tag-markets","tag-monetary-policy","tag-philip-jefferson"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/187855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=187855"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/187855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/187856"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=187855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=187855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=187855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}