Federal Reserve Governor Kugler: If unemployment continues to rise, it would be appropriate for the Federal Reserve to cut interest rates earlier

Mr. Coogler, the Fed governor, said the rebalancing of the labour market meant that inflation would fall towards 2 per cent; that if the inflation data failed to boost confidence, it could stay put for a longer period of time; that it would be appropriate for the Fed to cut interest rates earlier if unemployment continued to rise; that it would be appropriate to cut rates later in 2024; that those risks to inflation and employment were now more balanced; that inflation had continued to fall but remained above target; and that non-government data provided another perspective on the broader economy.