02:55 PM EDT, 10/02/2024 (MT Newswires) -- Richmond Federal Reserve President Tom Barkin (voter) said that the Federal Open Market Committee's 50-basis-point rate reduction is a "recalibration to a somewhat less restrictive stance" and not a response to an economy in trouble, adding that it is too early to declare victory over inflation.

Recent comments of note:

(Sept. 30) Fed Chairman Jerome Powell (voter) said that he could foresee two 25-basis-point rate cuts over the remaining two FOMC meetings of the year if the economy evolves as expected, but cautioned that decisions will continue to be made on a meeting-by-meeting basis and are on no preset course. Powell noted that the FOMC will get to see two monthly employment reports before the next meeting in November and would not decide on the next policy move until the meeting.

(Sept. 30) Atlanta Fed President Raphael Bostic (voter) said in an interview with Reuters that he would consider another 50-basis-point rate cut at the next FOMC meeting December if jobs growth slows faster than expected.

(Sept. 30) Fed Governor Michelle Bowman (voter) repeated her comments from last week, again suggesting a measured approach to cutting interest rates is appropriate. Bowman's speech was identical to those given on Sept. 24 and Sept. 26.

(Sept. 26) Multiple Fed officials, including Fed Chair Jerome Powell, spoke on Thursday, but generally avoided making comments on monetary policy or the economy, instead focused on inclusion in banking and bank management at a conference hosted by the New York Fed.

(Sept. 26) Bowman 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.

(Sept. 26) Fed Governor Lisa Cook (voter) said that she "wholeheartedly supported" the FOMC's 50-basis-point rate cut but did not indicate how the FOMC should progress in its rate cut cycle, saying that she will continue to monitor the incoming data, the balance of risks and the evolving outlook.