BlockBeats News, May 19, Federal Reserve Vice Chair Jefferson stated that when formulating monetary policy, the downgrade of the US credit rating by Moody's will be treated as routine economic data. Jefferson said, "We will view this rating downgrade from the perspective of how it informs all incoming data: what does it mean for us in terms of achieving our objectives, rather than speculating on what the rating downgrade may signify in a political-economic context."
He also stated, "Our goal is to fulfill our dual mandate—achieving maximum employment and price stability. During periods of financial market turmoil, maintaining focus on our mission is especially critical." (FXStreet)
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