Fed's Mussallem: gradual rate cuts should resume
September 28, according to the Financial Times, the U.S. St. Louis Federal Reserve President Mussallem said that after cutting interest rates by 50 basis points earlier this month, the Federal Reserve should resume the practice of ‘gradual’ interest rate cuts.
Mussallem said the U.S. economy could respond ‘very positively’ to a looser financial environment, which would stimulate demand and extend the time it takes for the Fed to bring inflation down to 2 per cent.
According to forecasts released at this month's meeting, Mussallem is one of the officials expected to cut rates by more than 25 basis points for the rest of the year.
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