Fed's Jefferson will watch incoming data, making decision meeting by meeting

Federal Reserve Vice Chair Philip Jefferson said on Tuesday the US central bank's 50 basis points (bps) interest-rate cut in September was aimed at keeping the labor market strong even as inflation continues to ease, per Reuters.  

Key quotes

"The FOMC has gained greater confidence that inflation is moving sustainably toward our 2% goal."

"To maintain the strength of the labor market, my FOMC colleagues and I recalibrated our policy stance last month."

"Economic activity continues to grow at a solid pace. Inflation has eased substantially. The labor market has cooled from its formerly overheated state."

"I expect that we will continue to make progress toward that goal."

"My approach to monetary policymaking is to make decisions meeting by meeting."

."As the economy evolves, I will continue to update my thinking about policy to best promote maximum employment and price stability." 

Market reaction

The US Dollar Index (DXY) is trading 0.03% higher on the day at 102.50, as of writing.