TechFlow news, September 30 — According to Jinshi Data, Federal Reserve Vice Chair Jefferson said he expects the U.S. economy to continue growing at around 1.5% for the remainder of this year, and that without Fed support, the labor market could face potential pressure. He stated his support for the Fed's 25-basis-point rate cut at the September meeting, aimed at balancing the risks of persistently above-target inflation against the increasing threat to the job market. Jefferson said: "The labor market is softening, suggesting it could come under pressure if left unsupported." He added that he expects inflation to begin falling toward the Fed's 2% target in the years ahead. Jefferson noted that the impacts of the Trump administration’s trade, immigration, and other policies are still evolving, making his baseline forecast subject to particularly high uncertainty. Although the effects of tariffs on inflation and other parts of the economy have been lower than some economists expected, Jefferson said he anticipates these effects "will become more apparent in the coming months."
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