Alberto G. Musalem
- Monetary policy is moderately restrictive
- Labor market is no longer overheated
- Labor market no longer clear upside risk to inflation
- Recent data have bolstered my confidence on inflation
- Risk to both sides seem more balanced
- Time may be nearing for a change in policy
- Sees GDP growth 1.5% to 2.0% in H2
- Does not think the Fed is behind the curve and says the economy is doing very well
- Sees risks to cutting too early or too late
- Models suggest interest rates going forward likely to be higher than pre-pandemic
It doesn't get any clearer than this, he's ready to support a rate cut in September. He's also a voter in 2025 and sounds like he's ready to support a rate cutting cycle.
