TechFlow news, August 23 — According to Jinshi, Federal Reserve's Musalem stated that focus should be placed on the entire interest rate path rather than just the rate decision at any single meeting. Inflation remains above target levels and poses persistent risks. The next employment report may or may not be sufficient to justify a rate cut, depending on its specifics. Monetary policy is moderately restrictive. More data are needed, and the outlook for the rate path will continue to be adjusted ahead of the September meeting. Risks in the labor market are rising but have not yet materialized. The inflationary effects of tariffs are expected to gradually fade. The rate path could include pauses in rate cuts. If labor market risks intensify, the policy rate may need adjustment.
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