(Reuters) – St. Louis Federal Reserve Financial institution President Alberto Musalem on Friday stated the U.S. central financial institution ought to lower rates of interest “progressively” after what he referred to as the “sturdy and clear message” of a half-point interest-rate lower final week, which he stated he supported.
“For me, it’s about easing off the brake at this stage. It’s about making coverage progressively much less restrictive,” Musalem stated an interview with the Monetary Occasions. If the financial system or the labor market weakens greater than he expects, he stated, “a quicker tempo of price reductions is perhaps acceptable.”
