MNI BRIEF: Fed Caution Needed Amid Trade Turmoil- Jefferson

Federal Reserve Vice Chair Philip Jefferson said Thursday President Donald Trump's reciprocal tariffs create more uncertainty for firms and consumers that demands some monetary policy caution.

"This level of uncertainty can weigh on households and businesses' investment and spending decisions. We're in a situation where it's going to be important to take our time and think carefully about their impact," he told an Atlanta Fed event. 

Fiscal, immigration and regulatory policies also factor into the considerations, he said. "It's really the net effect of the whole collection of policies that are most important." (See: MNI POLICY: Fed Forced Into Hawkish Stance Despite Growth Risk)