Fed’s Musalem: Central bank should cut US interest rates ‘gradually
St Louis Federal Reserve (Fed) President Alberto Musalem said on Friday that the Fed should revert to cutting interest rates “gradually”, after a larger than usual half-point reduction in the September meeting, per Financial Times.
Key quotes
“For me, it’s about easing off the brake at this stage. It’s about making policy gradually less restrictive.”
“I’m attuned to the fact that the economy could weaken more than I currently expect.
“If that were the case, then a faster pace of rate reductions might be appropriate.”
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