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MNI: Fed’s Kugler Strongly Backed 50BP Cut, More Cuts Ahead

Federal Reserve Governor Adriana Kugler delivers remarks on the economic outlook at Harvard.

Federal Reserve Governor Adriana Kugler said Wednesday she strongly backed the FOMC’s half point interest rate cut last week, adding she expects additional reductions in borrowing costs if the economic outlook develops as she foresees.

“The combination of significant ongoing progress in reducing inflation and a cooling in the labor market means that the time has come to begin easing monetary policy, and I strongly supported the decision last week by the Federal Open Market Committee to cut the federal funds rate by 50 basis points,” Kugler said in prepared remarks.

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Federal Reserve Governor Adriana Kugler said Wednesday she strongly backed the FOMC’s half point interest rate cut last week, adding she expects additional reductions in borrowing costs if the economic outlook develops as she foresees.

“The combination of significant ongoing progress in reducing inflation and a cooling in the labor market means that the time has come to begin easing monetary policy, and I strongly supported the decision last week by the Federal Open Market Committee to cut the federal funds rate by 50 basis points,” Kugler said in prepared remarks.

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