Federal Reserve's Mousalem: No Need for Further Rate Cuts at Present

Odaily News Federal Reserve's Mousalem stated that inflation risks are easing, and he expects prices to begin moving back towards the Fed's target later this year. Mousalem noted that following last year's rate cuts, the Fed's monetary policy is well-positioned to address risks to price stability or employment. He indicated that current interest rates are near a neutral level—neither stimulating nor restraining the economy—and reiterated that with inflation still elevated, there is no need for further rate cuts. "I expect inflation to resume moving closer to our 2% target this year. Today's inflation data in this regard is encouraging," Mousalem said on Tuesday. "I believe the current policy stance is very appropriate, balancing both the expected economic path and various risks." (Jin10)