Three of them, citing the strength of the economy and an uncertain outlook, expressed a preference for going slow, using words such as "modest" and "gradual" to describe their views on the right pace for rate cuts.
The fourth, San Francisco Fed president Mary Daly, said she feels Fed policy is "very tight" and does not believe that a strong economy, as long as inflation continues to fall, should keep the central bank from continuing to reduce rates.
The remarks provide a small taste of what is expected to be a broad but closed-door debate on the appropriate path for policy at the Fed's upcoming policy meeting on Nov 6 and 7.
After Oct 25, US central bankers will observe a communications blackout - abstaining from any public comments on their monetary policy views - until the Fed announces its policy decision at the close of the two-day meeting.
This story is from the October 23, 2024 edition of The Straits Times.
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This story is from the October 23, 2024 edition of The Straits Times.
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