Fed's Jefferson: Labor Market Stabilizing, AI Uncertainty
Federal Reserve Vice Chair Philip Jefferson said the labor market is stabilizing in a low-hire, low-fire environment driven by uncertainty, particularly over AI. He welcomes more dynamism but wants to avoid rising unemployment.
Federal Reserve Vice Chair Philip Jefferson commented on the current state of the labor market, describing it as stabilizing. He characterized the environment as one of low hiring and low firing, driven by uncertainty—especially surrounding artificial intelligence.
Jefferson expressed openness to more dynamism in the labor market but emphasized that he does not want to see an increase in unemployment. His remarks suggest a cautious optimism, with the Fed monitoring labor conditions closely.
Source: First Squawk