Will the Federal Open Market Committee continue to cut interest rates at its meeting later this month? What will the future policy path look like? At least three U.S. central bank officials shared their opinions on Monday.
New York Fed President williams speaks out: Further rate cuts may be needed to move towards a neutral stance.
Given the increasingly balanced risks facing inflation and employment, the decision-making body may need to further cut rates to adjust policy rates towards a neutral stance; but williams did not say whether he would support a rate cut at this month's Fed meeting. He said that related decisions will be made at each interest rate meeting.
Fed Board Member Waller said he is inclined to cut rates again in December.
Fed Board Member Christopher Waller said he is inclined to cut rates again at the interest rate meeting later this month, but the data released at that time may provide a reason to hold steady; "Currently, I lean towards supporting a rate cut at the December meeting," Waller said in a speech prepared for the Fed Framework Review Conference hosted by the American Institute for Economic Research in Washington.
Atlanta Fed President keeps options open for the December meeting.
Atlanta Fed President Raphael Bostic said he has not decided whether a rate cut is needed this month, but still believes rates should continue to be cut in the coming months. Bostic wrote in an article published on Monday, "The risks to achieving the Committee's dual mandate of maximum employment and price stability have become roughly balanced. Therefore, we should also start turning monetary policy towards a position that neither stimulates nor restrains economic activity".