Fed's Musalem Says There's 'Limited Room' For Further Rate Cuts Without Policy Becoming Overly Accommodative
Synopsis
Musalem said the monetary policy stance should continue to lean against inflation persisting above the targeted level.
Federal Reserve Bank of St. Louis President Alberto Musalem on Monday cautioned that there is “limited room” for the Federal Reserve to cut interest rates further without the monetary policy becoming “overly accommodative.”
“While providing insurance against labor market weakness, I believe monetary policy should continue to lean against persistence in above-target inflation,” Musalem said in a speech at a Brookings Institution event.
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