Federal Reserve's Mester: It's Too Early to Decide on September Rate Decision
BlockBeats News, August 14th: Federal Reserve's Mester stated that it is now too early to decide whether to cut interest rates at the next month's meeting. When asked if there is a reason to cut rates by 50 basis points next month, Mester said that from his perspective, this would be "not supported by the current economic conditions and economic outlook." Mester mentioned that, on the one hand, "the data is starting to give us some signs as to whether there is a possibility of sustained inflation."
At the same time, he referred to the "downside risks to the labor market." Mester stated that the U.S. economic growth is slowing, coupled with tariffs putting pressure on corporate profit margins, which could threaten the robust labor market performance seen so far. He said: "I'm weighing those two factors, and when we see tension between the two objectives, we need to take a balanced approach." (FXStreet)
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