02:29 PM EDT, 09/26/2024 (MT Newswires) -- Multiple Fed officials, including Fed Chair Jerome Powell, spoke on Thursday, but avoided making comments on monetary policy or the economy, instead focusing on inclusion in banking and bank management at a conference hosted by the New York Fed.

The one exception was Fed Governor Michelle Bowman (voter), who repeated her exact speech from Sept. 24 when she explained her reasons for dissenting at last week's FOMC meeting and urged a cautious approach to rate reduction.

Recent comments of note:

(Sept. 25) Fed Governor Adriana Kugler (voter) said she "strongly supported" the 50-basis point rate cut at the Sept. 17-18 FOMC meeting and that she expects further rate cuts will be justified by slowing economic activity, hiring and inflation.

(Sept. 24) Fed Governor Michelle Bowman (voter) said that policy restriction should be reduced gradually due to continued concerns about inflation and a labor market that is likely stronger than recent data suggest. Bowman elaborated on comments that she made in a statement last week explaining why she voted against the FOMC's decision to lower the target range for the federal funds rate by 50 basis points at its meeting, saying that she still sees inflation as the key issue and that lowering interest rates too quickly could result in a resurgence of prices pressures. Bowman voted to lower rates by only 25 basis points.

(Sept. 23) Atlanta Fed President Raphael Bostic (voter) said that the FOMC's decision to lower rates by 50 basis points last week was appropriate given the uncertainty in the path of the labor market. However, the size of the rate reduction is not an indication for the size of future reductions and that future moves will be made based on the incoming information, Bostic said, adding that while the employment data has slowed, it is not dangerously weak.

(Sept. 23) Minneapolis Fed President Neel Kashkari (nonvoter) wrote in an essay that the 50-basis point reduction at the most recent FOMC meeting was "the right decision" given the slowdown in inflation and recent weakness in the employment data. Kashkari said that even with the rate cut, policy remains tight. Later in the day, Kashkari said in a CNBC interview that he believes the FOMC will slow its pace of rate cuts after the larger-than-normal reduction last week.

(Sept. 23) Chicago Fed President Austan Goolsbee (nonvoter) said expects "many more rate cuts over the next year" as the focus shifts to the employment side of the Fed's dual mandate.