Odaily News The Financial Times revealed that St. Louis Fed President Musallem said the Fed should resume its "gradual" approach to rate cuts after a larger-than-usual 50 basis point rate cut earlier this month. Musallem said the U.S. economy could respond "very positively" to a looser financial environment, stimulating demand and extending the time it takes the Fed to get inflation down to 2%. "For me, it's about easing the brakes at this stage, it's about gradually reducing policy restrictions," Musallem said. He is one of the officials who expects rate cuts of more than 25 basis points for the rest of the year, according to forecasts released at this month's meeting. (Jinshi)