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Fed Vice Chairman: Interest rates are now closer to neutral, and core inflation is making progress toward 2%.
On November 7, Fed Vice Chairman Jefferson: has supported the interest rate cut by the FOMC in October. The overall economic changes in the past few months have been minimal, and there are signs that core inflation is making progress toward 2%. Interest rates are now closer to neutral, so it is best to proceed slowly. It is still too early to judge how artificial intelligence will change the economy. The lack of progress in inflation seems to be due to tariffs, and voting intentions will be decided in successive meetings, as the government shutdown may lead to data gaps. ( Jin10 )