Jefferson: The risk of employment downturn is rising, and policy adjustments should be made cautiously

According to Jinshi reports, Federal Reserve Vice Chairman Jefferson stated on Monday that he believes the downside risks to employment have increased, but reiterated that as interest rates approach "neutral" levels, policymakers need to proceed with more caution in adjusting policies. He noted that the risk balance in the economy has shifted, and progress towards the 2% inflation target seems to have stalled, primarily due to tariffs. Jefferson stated that he will continue to rely on data and adopt a "meeting-by-meeting" decision-making approach.