03:01 PM EST, 01/09/2025 (MT Newswires) -- Kansas City Fed President Jeffrey Schmid (voter) said that the Federal Open Market Committee is close to meeting its dual mandate and is near the point where a neutral policy that provides neither restriction nor support is called for, allowing to be patient and data-dependent.

Fed Governor Michelle Bowman (voter) said that the FOMC should remain cautious when considering changes to the Fed's policy rate and should wait for more clarity about the incoming Trump Administration's plans to see their full effect. At the same time, Bowman said that she does not believe that the current stance of policy is as restrictive as some believe and that restoring price stability is key.

Boston Fed President Susan Collins (voter) said that the FOMC can move gradually as it lowers interest rates, noting that concerns about downturn in labor market conditions are easing.

Philadelphia Fed President Patrick Harker (nonvoter) said that he sees interest rates on a downward path, with the pace of reductions dependent on the incoming data.

Recent comments of note:

(Jan. 8) Fed Governor Christopher Waller (voter) said that he would support further rate cuts in 2025 if the economy evolves as expected and that he does not foresee a significant impact on inflation from anticipated tariffs imposed by the incoming Trump administration.

(Jan. 8) Minutes of the Dec. 17-18 FOMC meeting showed that FOMC saw itself at or near the point where it could lower rates more slowly after 100 basis point of rate reduction over the three meetings.