Nick Timiraos said Vice Chair JEFFERSON indicated officials may prefer to wait
longer before another rate hike, echoing remarks from New York Fed President
John Williams. Both senior Fed officials are implicitly casting doubt on an
October hike, after investors had been upping odds for an October move in recent
days. JEFFERSON said future policy adjustments should be guided by careful
assessment of data trends, the evolving economic outlook and the balance of
risks; yields across maturities have risen since the September meeting,
suggesting investors are re-evaluating the macro backdrop. He added that he and
colleagues need to make their own judgments, which may require more time, and
that he will keep assessing whether trends point to inflation returning to
target quickly enough — more data should clarify the appropriate policy stance.
