Fed Vice Chair Jefferson: trade policy remains highly uncertain, needs time to assess

On Thursday, Federal Reserve Vice Chairman Jefferson declined to give any details on how the Trump administration's sweeping tariffs will affect his views on the economy and the outlook for monetary policy, although he appeared to allude to some concerns that they could have a dampening effect on economic growth. ‘There's still a great deal of uncertainty about trade, and that uncertainty certainly puts pressure on households and business investment,’ Jefferson said in response to a question about trade policy. He said he is assessing not only the impact of trade policy, but also the net impact of all new policies, including fiscal, immigration and regulatory. ‘We're in a position where it's important to take the time to carefully consider their impact.’