Fed Gov. Jefferson: Economy has made a lot of progress, inflation has retreated

Fed Gov. Jefferson answering questions at his event this morning says:

• Economy has made a lot of progress, inflation has retreated.
• Labor market has been very resilient.
• I view the economy as in a solid position.
• The decline in inflation has attenuated
• Inflation is a source of concern.
• Is focused even more so on inflation given broader strength.
• It is appropriate that we maintain a policy rate in restrictive territory.
• Important to look for more evidence inflation is abating.
• It is appropriate to keep the policy rate restrictive until clear inflation adding.

Jefferson’s comments mentioned inflation on six separate headlines (out of 9). Clearly he’s concerned about inflation. Jefferson is a permanent voting member on the Federal Reserve as a result of being a governor.

I had of the US stock open, the NASDAQ futures are up 73 points. The S&P index is up 15.5 points or 0.30%.

This article was written by Greg Michalowski at www.forexlive.com.