[Federal Reserve's Mussailem: No Need for Further Rate Cuts at Present] Odaily Planet Daily News – Federal Reserve's Mussailem stated that inflation risks are easing, and he expects prices to start returning to the Fed's target later this year. Mussailem pointed out that after last year's rate cuts, the Fed's monetary policy is well-positioned to address risks to price stability or employment. He noted that the current interest rate is close to a neutral level, meaning it neither stimulates nor restrains the economy, and reiterated that there is no need for further rate cuts while inflation remains elevated. 'I expect inflation to move closer to our 2% target this year. Today's inflation data is encouraging in this regard,' Mussailem said on Tuesday. 'I believe the current policy stance is very appropriate, balancing the expected economic trajectory while accounting for various risks.' (Jin10)