Ahead of Kugler, the market was pricing in a 62% chance of a 50 bps cut on November 7.
Says she will support additional rate cuts going forwardFed should keep focus on reducing inflation and also shift attention to maximum employmentEstimates PCE inflation at 2.2% in August, Core PCE at 2.7% in signs of progress towards goalMay tame some time to feel that prices are back to normalThere has been a significant moderation in the labor market recentlyExpects spending to grow at a somewhat more moderate pace moving forwardFed must now ‘balance its focus’ to continue to make progress on inflation while avoiding unnecessary pain in the economy
There is nothing surprising in the comments, which match up with what Powell and Waller have said.
This article was written by Adam Button at www.forexlive.com.
