Federal Reserve's Mossala: There is currently no need for further interest rate cuts.

Federal Reserve Chairman Mohamed Mussaleem stated that inflation risks are easing, and he expects prices to begin returning to the Fed's target later this year. Mussaleem noted that after last year's rate cuts, the Fed's monetary policy is well-positioned to address risks to price stability or employment. He stated that current interest rates are close to neutral, meaning they neither stimulate nor inhibit the economy, and reiterated that there is no need for further rate cuts given that inflation remains high. "I expect inflation to move back towards our 2% target this year. Today's inflation data is encouraging in this regard," Mussaleem said on Tuesday. "I think the current policy positioning is very appropriate, balancing the expected path of the economy while also taking into account various risks." (Jinshi)