WASHINGTON (Reuters) -U.S. Federal Reserve Vice Chair Philip Jefferson said on Monday he expects U.S. economic growth to continue at about a 1.5% pace for the rest of the year, with the job market facing potential stress if not supported by the central bank.

In remarks prepared for delivery at a Bank of Finland conference in Helsinki, Jefferson said he supported a quarter point reduction at the Fed's Sept. 16-17 policy meeting as a way to balance the risk of continued above target inflation with what he sees as rising threats to the job market.

"The labor market is softening, which suggests that, left unsupported, it could experience stress," Jefferson said, adding he anticipated inflation to begin to ease back to the Fed's 2% target after this  year.

The impacts of trade, immigration and other policies of President Donald Trump's administration continue to evolve, Jefferson said, adding "I view the uncertainty around my baseline outlook as especially high, mainly due to the new policies being introduced by the current U.S. administration and their effects on employment and inflation."

 Though the impact of tariffs on inflation and other aspects of the economy has been less than some economists expected, Jefferson said he anticipated those effects "will further show in coming months."

The Fed cut its benchmark policy rate to the 4% to 4.25% range at the last meeting, the first rate move since December. Policymakers anticipated two more cuts over the rest of the year in projections issued after the meeting.

(Editing by David Gregorio)