Federal Reserve governor Adriana Kugler said Tuesday that she 'strongly supported' the decision to cut rates by half a percentage point in September, and...
Federal Reserve governor Adriana Kugler said Tuesday that she "strongly supported" the decision to cut rates by half a percentage point in September, and that she favors more cuts if inflation continues to drop.
If downside risks to the job market intensify “it may be appropriate to move policy more quickly to a neutral stance,” she said, while adding the Fed may need to slow the pace of rate cuts if incoming data do not provide confidence that inflation is moving sustainably toward the Fed’s 2% goal.Markets are now pricing in a 25 basis point rate cut for the next policy meeting in November.
Kugler’s comments follow a much stronger-than-expected jobs report for the month of September that saw more than 250,000 jobs added and unemployment ticking down to 4.1%— though it could have been 4.0% without rounding.Kugler said she is also monitoring the economic impact of Hurricane Helene, along with geopolitical events in the Middle East, for any impact on the U.S. economic outlook.
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