Fed's Musalem: Will wait to see data before deciding on December meeting

St. Louis Federal Reserve President Alberto Musalem said on Wednesday that it might be possible to pause rate cuts at the upcoming meetings, and added that they are keeping all options for the December meeting.

Key takeaways

"Will wait to see data before deciding on December Fed meeting."

"Restrictive monetary policy will continue to cool inflation."

"Chances of labor market trouble are low right now."

"The job isn't done to bring inflation back to target."

"Monetary policy is moderately restrictive."

"Uncertainty about monetary policy, election, had weighed on the economy."

Market reaction

The US Dollar Index edges higher following these comments and was last seen rising 0.32% on the day at 106.68.