Federal Reserve's Musalam says it does not support further interest rate cuts

Federal Reserve's Musalam stated that he does not support further interest rate cuts due to inflation rates consistently exceeding the Fed's 2% target. He agrees with the Federal Reserve's decision to maintain interest rates in the range of 3.5% to 3.75% this week and believes that the current level of interest rates will not significantly suppress the economy. Musalam pointed out that sustained price increases will prevent the Federal Reserve from supporting the economy through interest rate cuts. Lowering short-term interest rates may raise inflation concerns and push up long-term interest rates, thereby affecting mortgage and corporate borrowing costs.