Fed Vice Chair Jefferson (voter) says sees downside risks to employment and upside risks to inflation, while he is cautious on the economic outlook and notes uncertainty is elevated

Says:

• Current policy rate is well-positioned to respond and rate is broadly in range of neutral.
• US labour market is roughly in balance and susceptible to adverse shocks.
• US inflation remains above the central bank's targets and warns that persistent elevated energy prices can weigh in consumer and business spending.