Cook FRB Director: "Appropriate gradual rate cuts" - Pace depends on data.

November 21, 2024 1:38 JST (excerpt)
"Employment and inflation, risks are generally balanced" - Director Cook.
If the labor market significantly softens, an "acceleration in the pace of easing" might also be appropriate.

Fed Reserve Board's Cook pointed out progress on the inflation front and a robust labor market, suggesting that the FOMC is likely to take its time to approach a neutral stance on policy rates.
Regarding the dual mandate of employment and inflation that the Fed Reserve Board manages, Director Cook noted that risks are "generally balanced". While the direction of interest rates is downwards, the "extent and timing" of rate cuts will be dependent on forthcoming data and economic outlook.
On the 20th, Director Cook spoke at an event held at the University of Virginia. He stated, "It seems appropriate to take more time to move policy rates closer to a more neutral stance." The remarks are based on a prepared script.

The next FOMC meeting will be held on the 17th-18th of next month. After consecutive rate cuts in September and November, the expectation of additional rate cuts among investors has diminished. This is due to strong inflation data and statements from officials advocating for cautious policy adjustments.