December 3, 2024, 5:47 JST
Federal Reserve Board(FRB) member Wallace expressed inclination towards supporting additional rate cuts at this month's Federal Open Market Committee(FOMC) meeting.
While acknowledging the possibility of data supporting keeping the policy rate unchanged before the meeting, he stated, "I am leaning towards supporting a policy rate cut at the December meeting at this point." This was revealed in a speech text at a conference on the Federal Reserve Board's policy framework review hosted by the American Institute for Economic Research(AIER) in Washington.