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Paese: Should Act Promptly If Inflation Progress Stalls

FED

St Louis Fed’s interim president Paese gives rare remarks, serving in a role that would have a voting position on the FOMC in 2025. Paese’s remarks are found here.

  • She supported a rate pause but may need to tighten further.
  • The FOMC should “act promptly” if inflation progress stalls, and inflation has been moving sideways.
  • Policy exerting “modest” pressure on inflation.
  • On financial conditions: "It will be important to watch closely how all facets of financial conditions evolve in the coming weeks as the FOMC weighs its policy options at its next meetings [...] I will continue to monitor the 10-year yield and other measures of financial and credit conditions and consider their implications for monetary policy”
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