02:40 PM EDT, 10/21/2024 (MT Newswires) -- Dallas Fed President Lorie Logan (nonvoter) said that she expects it will be appropriate to gradually lower the federal funds rate but cautioned that unexpected shocks could alter the path of policy reduction and that the Federal Open Market Committee will need to "remain nimble and willing to adjust if appropriate."

Minneapolis Fed President Neel Kashkari (nonvoter) said that either a 25 basis point or the decided-on 50 basis point rate cut at the September FOMC meeting would have been appropriate, saying that the larger cut was a good start toward reducing policy restriction. Kashkari would not comment on the size of future reductions, saying that policy would be data-dependent.

Recent comments of note:

(Oct. 15) Atlanta Fed President Raphael Bostic (voter) said that he will continue to monitor incoming data to determine how much the FOMC should cut rates going forward, saying that he expects economic growth to remain "robust."

(Oct. 15) San Francisco Fed President Mary Daly (voter) said that monetary policy remains restrictive, adding that the risks to inflation and employment are now in balance and that the FOMC must remain vigilant to protect both sides of its inflation mandate.

(Oct. 14) Fed Governor Christopher Waller (voter) said that his baseline forecast is for a gradual reduction in the policy rate over the near year, but there is more uncertainty about how much total reduction will occur.

(Oct. 14) Minneapolis Fed President Neel Kashkari (nonvoter) said he expects "modest reductions" in the federal funds rate over the coming quarters but repeated that the health of the economy will determine the pace and magnitude of reductions.