Federal Reserve Vice Chair Jefferson: When formulating policies, Moody's downgrade will be viewed as ordinary data.

Federal Reserve Vice Chairman Jefferson stated that when formulating monetary policy, the downgrade of the US credit rating by Moody's will be viewed as ordinary economic data. Jefferson said, "We will view this downgrade as we view all upcoming information: in terms of what it means for achieving our established goals, rather than commenting on what the downgrade may mean in a political and economic context." He also said, "Our goal is to fulfill our dual mandateachieving maximum employment and price stability. During periods of financial market fluctuations, it is especially important to stay focused on our mission."