Federal Reserve's Powell Suggests Unwillingness to Cut Interest Rates Again, Rates Already «Close» to Neutral

BlockBeats News, January 10th. As we enter the new year, the Federal Reserve is facing a strong economy and inflation that remains above the 2% target. Kansas City Fed President Schmidtpreis on Thursday hinted that he is unwilling to cut interest rates again. Speaking at the Kansas City Economic Club, Schmidtpreis said, "We are currently very close to achieving the twin goals of price stability and full employment," and "as inflation approaches the target and economic growth continues to show sustained momentum, I believe we are close to the point where the economy neither needs to be restricted nor supported, and policy should be neutral."

In the current environment, "interest rates may be very close to their long-term level," Schmidtpreis said. He stated, "I support a gradual adjustment of policy, only responding if the underlying data continues to change. He also said, "The strength of the economy gives us patience." (Xinhua News)