02:47 PM EDT, 10/08/2024 (MT Newswires) -- Fed Governor Adriana Kugler (voter) said that she would support further reductions in the federal funds rate if inflation continued to slow as expected, adding that she will continue to monitor incoming data and economic impacts from weather effects and tensions in the Middle East.

New York Fed President John Williams (voter) said in an interview with the Financial Times that interest rates should be reduced over time, adding that the 50-basis point reduction at the September FOMC meeting is not a guide for how the FOMC will proceed at future meetings. Strong employment data for September gives the FOMC more time to lower rates, Williams noted.

Recent comments of note:

(Oct. 7) St. Louis Fed President Alberto Musalem (nonvoter) said that it is best to be cautious when cutting rates, saying that the risks of easing too much or too early outweigh the risks of easing too little or too late.

(Oct. 4) Chicago Fed Bank President Austan Goolsbee (nonvoter) said in an interview with Bloomberg TV that the stronger-than-expected September employment report was "superb" but cautioned that the overall universe of employment data indicates a slowdown in hiring.

(Oct. 2) Richmond Fed President Tom Barkin (voter) said that the FOMC'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.