Fed Governor Kugler: We must focus on both inflation and employment goals
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Odaily Odaily News: Federal Reserve Governor Kugler said policymakers must focus on the Fed's inflation and employment goals, noting that the labor market is cooling and the Fed's 2% inflation target is progressing slowly. "The continued slowdown in anti-inflation trends and the cooling of the labor market mean that we need to continue to focus on two tasks," Kugler said in prepared remarks on Thursday. "If there are any risks that hinder progress or re-accelerate inflation, it would be appropriate to pause our policy rate cuts. But if the labor market slows abruptly, it would be appropriate to continue to gradually reduce the policy rate." Kugler said that slowing wages and stable inflation expectations could slow price growth further, but stubborn inflation in housing and other categories could hinder further progress. (Jinshi)
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