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Jefferson: International Research Forum on Monetary Policy, April 16, 2024
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Thank you, Matteo. It is my pleasure to welcome you to the 13th International Research Forum on Monetary Policy. The vibrant discussions you will engage in at this conference, and your research more broadly, will help us to understand better the origins and implications of uncertainty. I became a member of the Federal Reserve Board just as it was grappling with the economic after-effects of the pandemic, a once-in-a-century disturbance of worldwide significance. As a result, I know from firsthand experience that understanding the main sources of uncertainty and how best to make monetary policy decisions in the presence of uncertainty are crucial to policymaking. post: *JEFFERSON EXPECTS INFLATION TO DECLINE WITH FED RATE STEADY *JEFFERSON: IF INFLATION PERSISTS, HOLD RATES HIGH FOR LONGER post: FED'S JEFFERSON: RECENT READINGS ON BOTH JOB GAINS AND INFLATION HAVE COME IN HIGHER THAN EXPECTED. post: FED'S JEFFERSON: IN MARCH, HEADLINE PCE WAS 2.7% OVER THE PAST 12 MONTHS BASED ON FED STAFF ESTIMATES, CORE PCE AT 2.8%. post: Fed Vice Chair Philip Jefferson says inflation that proves more stubborn would warrant a longer period of interest rates at their current setting. He doesn't refer to rate cuts as a base case, as he did on Feb. 22 https://t.co/ot8Lx2V9Dd
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