What is the Federal Reserve's dual mandate as mentioned in the text?
Fed Officials Can Be More Cautious With Rate Cuts, Cook Says
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At the start of 2024, the Fed funds rate was at its highest in over two decades, exerting significant restraint. Throughout 2023, inflation gradually aligned with objectives, while the labor market cooled. Since September, the FONC voted to reduce the Fed funds rate by 100 basis points, easing monetary policy. The labor market showed resilience, and inflation remained stickier than expected. The policy rate is expected to move towards a neutral stance, with a cautious approach to further cuts.
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What is the anticipated approach to monetary policy easing as described in the text?
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