Fed officials signaled they were close to backing a rate cut at the FOMC's Sept. 17-18 meeting.

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ODAILY
08-15
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Odaily Odaily News: Fed's Musallem said he believes the time is approaching for the Fed to cut interest rates. Musallem said he now believes that inflation is back on track to the Fed's 2% target, and the labor market no longer poses a risk to inflation. In his view, the risks in both directions of the mission seem more balanced, so as future meetings approach, the time may be coming for a moderately restrictive policy adjustment. These remarks have led Musallem to join several other Fed officials in suggesting that they are close to supporting the FOMC to cut interest rates at the September 17-18 meeting. (Jinshi)

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