Fed Gov. Jefferson: Policy rate is in restrictive territory. Inflation still stubborn. ...Middle East

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Fed Gov. Jefferson: Policy rate is in restrictive territory. Inflation still stubborn.
Policy rate is in restrictive territory.We continue to see labor market come into better balance and inflation decline, though nowhere near as quickly as would have likedWill assess incoming data, evolving outlook, balance of risks to set appropriate stands of policy rate.US economy growing at solid pace, labor market remains solid.Expect consumer spending growth to slow later this year.Too early to tell if recent slowdown in disinflationary process will be long-lasting.April's better inflation reading is encouraging.Fed staff estimates core PCe prices rose at annual 4.1% in first four months of 2024 with 12 month change at 2.75%.Long-term inflation expectations show Americans believe Fed wi

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