(Reuters) - Kansas City Federal Reserve Bank President Jeffrey Schmid said on Monday he supports a cautious and deliberate approach to interest rate cuts now that inflation is heading back to the Fed's 2% target and the labor market is normalizing. While I support dialing back the restrictiveness of policy, my preference would be to avoid outsized moves, especially given...

01:54 PM EDT, 10/21/2024 (MT Newswires) -- The Federal Reserve should gradually reduce its benchmark lending rate to help manage risks to inflation and the labor market, if the economy evolves as projected, Dallas Fed President Lorie Logan said Monday. Last month, the central bank's Federal Open Market Committee lowered interest rates by 50 basis points to a range of...

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...

The U.S. economy is flexing unexpected muscles, with recent data hinting at a potential shift from the much-anticipated soft landing to something far more glittering. Only two months ago concerns about a looming downturn dominated the narrative, but as a series of upside data surprises rolled in, including better-than-expected GDP revisions, the September jobs report, and retail sales figures, the...