Federal Reserve's Musalem: I suggested raising interest rates in July

Federal Reserve's Musalem stated that he suggested raising interest rates in July and does not want to give a clear view on what action the Federal Reserve will take at the September FOMC meeting. He will not predict the September meeting.

He hopes to reduce inflation to 2% within 18 months. When supply shocks occur, it is necessary to focus on core inflation. Forward guidance means commitment, while conveying the policy framework is different. The labor market has not brought inflationary pressure.