Nodding to rising bond yields, Fed's Jefferson says can "proceed carefully"

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A Local Culinary Adventure: inspired by Halifax's Seaport Market | SaltWire #cooking #cookingtipsDALLAS - The U.S. Federal Reserve can"proceed carefully" in deciding whether any further increases are warranted in its benchmark policy rate of interest, Fed Vice Chair Philip Jefferson said on Monday, nodding to the recent rise in long-term U.S. bond yields as one of the factors that have left the U.S.

The Fed"is in a position to proceed carefully in assessing the extent of any additional policy firming that may be necessary" to slow inflation to its 2% target, Jefferson said in an address at the National Association for Business Economics convention, highlighting the influence that higher market interest rates and the delayed effect of monetary policy on things like corporate bond refinancing will play in deciding"whether" another rate increase is needed.

The Fed held rates constant at a range of from 5.25% to 5.5% at its September meeting, though a majority of policymakers at the time felt one more rate increase would be needed by the end of the year.

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