Fed Governor Cook: Rate cuts so far are an important step in unwinding policy constraints

Fed Governor Cook said that if the decline in inflation slows down and the job market remains strong, there may be a pause in rate hikes. If the labor market and inflation develop as expected, it will be appropriate to continue to lower the policy rate to a neutral level. The rate cuts so far are an important step in unwinding policy restrictions. The overall data shows that the decline in inflation is still continuing and the labor market is gradually cooling. The scale and timing of the rate cuts will depend on the upcoming data, the economic outlook and the balance of risks; the policy is not pre-set. (Jinshi)