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St. Louis Federal Reserve President Alberto Musalem stated that he needs to observe favorable inflation, moderating demand, and expanding supply before considering an interest rate cut. Musalem mentioned that these conditions could take months, potentially quarters, to materialize. He also highlighted the importance of monitoring inflation levels and expressed support for additional policy tightening if inflation exceeds 2% significantly. Musalem emphasized the need for confidence in the economic indicators before implementing any rate adjustments.
(Reuters) - The U.S. central bank should only start to cut interest rates after "months, and more likely quarters" of falling inflation .., St. Louis Federal Reserve President Alberto Musalem said on Tuesday, in his first public comments .. #FOMC #hawk https://t.co/h6IKNB2VqW https://t.co/a21G2cDvAu
⚠️ FED'S MUSALEM SAYS HE NEEDS TO OBSERVE PERIOD OF FAVORABLE INFLATION, MODERATING DEMAND AND EXPANDING SUPPLY BEFORE HE WILL HAVE CONFIDENCE FOR AN INTEREST RATE CUT **FED'S MUSALEM SAYS THESE CONDITIONS COULD TAKE MONTHS AND MORE LIKELY QUARTERS TO PLAY OUT ** FED'S MUSALEM…
Fed’s Musalem: Current Stance Allows Fed To Be Patient And Assess Data, Could Take Quarters To See Data To Support Rate Cut - Sees Long-Run Neutral Rate As Higher Than 0.5% - Sees Uncertainty On Degree Of Policy Restrictiveness - May Retail Sales Data Suggests Moderate Demand…