Federal Reserve (Fed) Bank of St. Louis President Alberto Musalem hit the wires on Wednesday, noting that sticky inflation figures make it difficult for the Fed to continue to ease rates. The Fed's Musalem spun focus onto the overall healthy appearance of the US labor market to ease negative pressure from admitting that inflation continues to flaunt downward pressure from the Fed.

Key highlights

The US central bank may be on the last mile to price stability, inflation is expected to converge to the 2% target over the medium term.

Recent information suggests that the risk of inflation moving higher has risen, while risks to the job market remain unchanged or have fallen.

The business sector is generally healthy, though the smallest businesses and those in the consumer discretionary market is seeing slower earnings growth.

Recent high productivity could prove durably structural, but that remains uncertain.

Growth is broad-based and driven by consumption, income growth, productivity, supportive financial conditions, and wealth effects.

Strong economy on track for a solid fourth quarter.

Monetary policy is to remain appropriately restrictive while inflation remains above 2%.

Further rates easing may be appropriate if inflation continues to fall.