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Federal Reserve's Moulton Salem Urges Caution in Rate Cut, Forecasts Strong Economic Rebound in First Quarter Next Year
BlockBeats News, November 10th, Federal Reserve's Mester stated that he expects a strong rebound in the U.S. economy in early next year, underscoring officials' need to be cautious about further rate cuts. He mentioned factors such as fiscal support, the effects of previous rate cuts, and regulatory easing. Mester reiterated his view that the current Fed policy is near a point where it is no longer putting downward pressure on inflation. We must proceed with caution, which is very important because I believe there is limited room for further rate cuts, otherwise monetary policy will become excessively accommodative. After two rate cuts this year, Fed officials differ on how much further cuts are needed. Fed Chair Powell stated last month that a December rate cut is not set in stone. Several officials speaking since the central bank's October meeting have also advocated for a pause in rate cuts in December, emphasizing the need to contain inflation above the target. (FXStreet)
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