Fed's Jefferson Says More Data Needed Before Deciding Next Rate Move

By Dean Seal

Federal Reserve governor Philip Jefferson said Thursday that the central bank may need more time to gauge the direction of the economy before it makes any further rate adjustments.

Last month's rate increase was an appropriate move to help tamp down inflation and assure the public that the central bank is focused on prices, Jefferson said at an event in Charlottesville, Va.

Any further rate adjustments would need to be approached carefully and with more data in hand to avoid straining an economy already buffeted by a "cascade of shocks," he said, including high energy prices and shifting trade policy.

"My colleagues and I will need to come to our own judgment, which may take more time," Jefferson said.

Jefferson's comments are the latest from a Fed official to signal that the central bank may wait until December or later before raising interest rates again.

New York Fed President John Williams, the vice chair of the Fed's rate-setting committee, similarly suggested on Tuesday that the Fed could wait until December to raise interest rates again rather than pushing another increase through later this month. "There is no need for urgency," Williams said in a speech in Buffalo, N.Y.

The probability of an increase at the October Fed meeting has been tumbling since Williams spoke, falling to less than 33% Thursday from 68% earlier in the week, according to CME's FedWatch tool.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

October 01, 2026 13:56 ET (17:56 GMT)