Musalem: Unwilling to support further interest rate cuts, inflation above target level

According to Jinshi News, Federal Reserve's Musalem stated on Friday that, given the inflation rate has consistently been above the Fed's 2% target level, he is less inclined to support further rate cuts. Musalem agreed with the Fed's decision to maintain interest rates this week and believes that at the current interest rate level of 3.5% to 3.75%, the target rate is no longer high enough to significantly restrain the economy. Ongoing price increases should prevent the Fed from lowering rates to support the economy.