A 0.5 percent cut in the interest rate by the Federal Reserve in September is not justified by the economic situation, with the country close to full employment, inflation greater than 2% and companies that adapt to rates, the president of the Fed of St. Louis Alberto Musalem declared on Thursday.
“This is not supported by the current state of the economy and prospects,” Musalem said to CNBC in the comments that followed new data that showed higher high prices than expected in July and by the recent Treasury Secretary Scott Besent that the recent working numbers could lead to a greater reduction.
Although Musalem said he has increased his perception of the risks faced by the labor market, “we are at the beginning of this window” so that the rates influence the prices, with a “reasonable probability” that price pressures can be more persistent than expected.
Source: Terra
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