Support for additional rate cuts in the US, economic indicators determine the direction = St. Louis Fed President.
October 8, 2024, 10:54 AM GMT+9 (excerpt)
St. Louis Fed President Musalem on the 7th, while supporting additional rate cuts as the economy continues to progress soundly, stated that economic indicators determine the direction of monetary policy. He indicated the need to proceed with rate cuts cautiously to avoid going too far.
At a lecture for an event in New York, it was pointed out that further gradual reductions in the policy interest rate are likely to be appropriate over time. It was mentioned that "patience" is helpful for the Federal Reserve (FRB).
"I do not intend to anticipate the scale or timing of future policy adjustments."
Mr. Musalem does not have voting rights at this year's Federal Open Market Committee (FOMC).
At a lecture for an event in New York, it was pointed out that further gradual reductions in the policy interest rate are likely to be appropriate over time. It was mentioned that "patience" is helpful for the Federal Reserve (FRB).
"I do not intend to anticipate the scale or timing of future policy adjustments."
Mr. Musalem does not have voting rights at this year's Federal Open Market Committee (FOMC).
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