Fed needs to move slowly with further rate cuts, Jefferson says

By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Vice Chair Philip Jefferson said on Monday the U.​S. central bank needs to "proceed slowly" ‌with any further interest rate cuts as it eases policy towards a level ‌that would likely stop putting downward pressure on inflation. In remarks prepared for delivery at a Kansas City Fed event, Jefferson said he agreed the central bank's quarter-percentage-point rate cut last ⁠month was appropriate, ‌given increased risks to the job market and the likeli ...