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Fed Vice Chair Philip Jefferson said inflation remains too high

By The Likely · Updated Oct 2, 6:57 AM ET · Drawn from 6 sources · Written by AI, checked against sources

Federal Reserve Vice Chair Philip Jefferson warned on October 1 that price increases have topped the central bank's 2% goal for over five years.

Why it mattersPersistent inflation above central bank targets can prompt further policy adjustments affecting personal borrowing costs.

How we got here

  1. The FOMC raised its target range by a quarter percentage point to 3.75%–4%. Newyorkfed
  2. Fed Governor Michael Barr stated in Chicago that further policy adjustments were likely needed to achieve target inflation. Gov
  3. New York Fed President John Williams suggested one further upward adjustment late in the year might be appropriate. Newyorkfed, Newyorkfed
  4. The BEA reported August headline PCE inflation at 3.4% and core PCE at 3.0% year over year. Gov
  5. Fed Vice Chair Philip Jefferson delivered a speech on the U.S. economy and monetary policy. Gov
  6. The BLS scheduled the September Employment Situation report for release. Gov
  7. The FOMC scheduled its two-day October meeting to begin. Gov
  8. The BEA scheduled the release of its September Personal Income and Outlays report. Gov

What's likely next

  1. BLS scheduled the September Employment Situation report.
  2. BEA scheduled Personal Income and Outlays for September 2026.

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