""I still see room for further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral,""
""I believe rates will settle at some place that's well below where it is right now,""
""And I still think that. My unease is about the short-run front-loading too many rate cuts,""
""I'm trying to come with an independent monetary view, informed by the folks I talk to in my district... I don't find it that disturbing if, at moments of potential transition, we have honest disagreements, and some people vote one way or vote the other way.""
A New York Fed leader signaled room for further near-term adjustments to the federal funds rate to move policy closer to neutral. Markets quickly priced in a higher probability of a December rate cut, driving stocks higher and Treasuries to rally. The New York Fed president holds a permanent FOMC vote and plays a central role in policy execution, making such guidance notable. Other regional Fed leaders indicated a desire to calm communications while expressing differing views on the timing and pacing of rate cuts amid recent inflation dynamics.
Read at Axios
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