Fed’s Musalem Says Data Point to Further Inflation Progress
- CPI figures ‘encouraging’ but further evidence needed, he says
- Musalem says monetary policy is restrictive but not overly so
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Federal Reserve Bank of St. Louis President Alberto Musalem said recent data — including consumer price data out Thursday — suggest the central bank is making further progress toward its 2% inflation goal, but noted additional evidence is needed.
Musalem described the labor market as “strong,” and said the central bank has time to evaluate more data before making a decision about adjusting policy. He said the Fed’s current policy stance is “restrictive” but not overly so.