02:50 PM EDT, 09/30/2024 (MT Newswires) -- Federal Reserve Chairman Jerome Powell (voter) said that he could foresee two 25-basis point rate cuts over the two remaining Federal Open Market Committee meetings for the year if the economy evolves as expected, but cautioned that decisions will be made on meeting-by-meeting basis and 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.

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.

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.

Recent comments of note:

(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 focusing on inclusion in banking and bank management at a conference hosted by the New York Fed.

(Sept. 26) Fed Governor Michelle Bowman (voter) repeated her exact speech from Sept. 24 when she explained her reasons for dissenting at the latest 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.

(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) Bowman 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 the previous 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.