Jefferson: The Federal Reserve should proceed with caution as interest rates approach neutral levels

According to Jin Ten, Federal Reserve Vice Chairman Jefferson stated that, given that interest rates have been lowered to near "neutral levels," the Federal Reserve should act cautiously. He pointed out that current interest rates still have "some restrictive" effects on the economy and supported last week's decision by the Federal Reserve to lower interest rates by 25 basis points. Jefferson indicated that existing data shows that the overall economic situation in the United States has not changed much in recent months, with the economy growing at a "moderate pace" and the job market "gradually cooling."