According to the British Financial Times, US St. Louis Federal Reserve Chairman Mussalem admitted that the labor market has cooled down in recent months, but given the low unemployment rate and potential economic strength, he is still optimistic about the outlook. Mussalem supported interest rate cuts in September. He said the commercial sector was in “good shape” and overall activity was “steady,” adding that large-scale layoffs did not seem “imminent.” However, he acknowledged that the risk faced by the Federal Reserve may require it to cut interest rates faster. He said, “I am aware that the economy may be weaker than I currently anticipated, and the labor market may be weaker than I currently anticipated.” “If this is the case, then it may be appropriate to speed up the pace of interest rate cuts.”

According to the British Financial Times, US St. Louis Federal Reserve Chairman Mussalem admitted that the labor market has cooled down in recent months, but given the low unemployment rate and potential economic strength, he is still optimistic about the outlook. Mussalem supported interest rate cuts in September. He said the commercial sector was in “good shape” and overall activity was “steady,” adding that large-scale layoffs did not seem “imminent.” However, he acknowledged that the risk faced by the Federal Reserve may require it to cut interest rates faster. He said, “I am aware that the economy may be weaker than I currently anticipated, and the labor market may be weaker than I currently anticipated.” “If this is the case, then it may be appropriate to speed up the pace of interest rate cuts.”