Federal Reserve Vice Chairperson: Moody's rating downgrade will be treated as ordinary data when formulating policy

Federal Reserve Vice Chairperson Jefferson says he will treat Moody's downgrade of the US credit rating as ordinary economic data when setting monetary policy. "We will look at the downgrade in the same way that we look at all the incoming information: what it means in terms of achieving our stated objectives, without commenting on what the downgrade may mean in a political and economic context," Jefferson said. He added: "Our goal is to fulfill our dual mandate - to achieve maximum employment and price stability. In times of financial marekt change, it is especially important to stay focused on our mission." (Kim X)