Fed Vice Chair Philip Jefferson Says Inflation Will Guide Rate Decisions

According to ChainCatcher, Fed Vice Chair Philip Jefferson said inflation has become the most important measure for policymakers weighing whether to raise interest rates further. He noted that economic activity and the labor market have remained strong recently, while price pressures persist. Jefferson said the inflation outlook will provide an important signal for monetary policy, and policymakers should follow economic data when deciding whether to adjust policy. Several Fed officials expressed concern about price pressures this week, while markets expect a rate hike in December.