03:45 PM EST, 11/14/2024 (MT Newswires) -- Fed Chairman Jerome Powell (voter) said that the FOMC does not need to be in a hurry to lower rates as the strength of the economy gives the FOMC room to act carefully and with a dependence on data and other incoming information.

Powell repeated his comments from last week the FOMC will take fiscal policy as one input into its decisions but will not speculate on fiscal policy decisions until they occur.

Fed Governor Adriana Kugler (voter) said that having an independent central bank is better correlated with positive economic outcomes and lower inflation compared with countries where monetary policy decisions are made by political leaders.

Recent comments of note:

(Nov. 13) Dallas Fed President Lorie Logan (nonvoter) said that the FOMC will need to cut interest rates further, but the timing and magnitude are still uncertain and that the FOMC needs to be cautious not to over-loosen policy or it may need to reverse course.

(Nov. 13) Minneapolis Fed President Neel Kashkari (nonvoter) said in an interview with Bloomberg Television that the October CPI data show that inflation is slowing but it is too early to decide on monetary policy for the December FOMC meeting.

(Nov. 13) St. Louis Fed President Alberto Musalem (nonvoter) said that he sees the FOMC nearing the end of its inflation fight, but recent data also suggest that the upside risks to that outlook are not entirely absent and the chances of a labor market deterioration have eased.

(Nov. 12) Richmond Fed President Tom Barkin (voter) said that the US economy is in "a good place," giving the FOMC room to adjust to either upside or downside surprises, particularly with regard to the labor market.

(Nov. 12) Minneapolis Fed President Neel Kashkari (nonvoter) said that the FOMC will be data dependent when determining whether to lower rates further at its next meeting in December. He said that the FOMC takes fiscal policy as an input and would not incorporate it until those policy decisions are known.