Fed’s Jeffereson: Some components of inflation have proved persistent, lowering them will take time – by anilpanchal7 Fed RiskAversion NewsTrading Banks Inflation
“Inflation ‘has started to come down,’ with some of that due to tighter monetary policy and some due to other factors such as improving global supply chains,” Fed’s Jefferson said in remarks prepared for delivery at an event at Washington and Lee University.Inflation ‘should fall back’ toward the Fed's 2% target as higher interest rates discourage spending in interest-rate sensitive sectors of the economy like housing.
Inflation ‘has started to come down’ with some of that due to tighter monetary policy and some due to other factors such as improving global supply chains. Monetary policy affects the economy and inflation with long, variable, and highly uncertain lags, and we are still learning about the full effect of our tightening thus far.No views about whether the Fed should continue raising interest rates at upcoming meetings.Following the speech, the policymaker also participates in the Question and Answer session.Want to return to 2% sooner rather than later; don't want expectations to become embedded.
Fed actions in recent weeks has aimed to show depositors there is ‘someone out there willing to lend’.Recent rise in discount window lending is appropriate at the moment.If small and regional banks contract in size could see lending standards change and could have a disproportionate impact on small business.
Fed will need to see how changes in credit standards play out, want community and regional banks to be strong.Important fed knows what is happening in the financial sector in terms of risk.was last seen rising to 1.0800, extending the week-start rebound amid sluggish Asian session.
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