Jefferson: Downside risks to employment are rising, requiring cautious policy adjustments.

According to ChainCatcher, citing Jinshi, Federal Reserve Vice Chairman Thomas Jefferson stated on Monday that he believes downside risks to employment have increased, but reiterated that policymakers need to proceed with policy adjustments more cautiously as interest rates approach "neutral" levels. He noted that the balance of risks in the economy has shifted, and progress toward the 2% inflation target appears to have stalled, primarily due to tariffs. Jefferson stated that he will continue to rely on data and adopt a "meeting-by-meeting" approach.