Fed's Waller Says He's Inclined to Vote for a Rate Cut

The transcript discusses the economic committee's decision to ease monetary policy to support the labor market while aiming for 2% inflation. Despite a 75 basis point reduction in the policy rate, monetary policy remains restrictive. Future rate cuts are expected, but concerns about inflation stalling above 2% may lead to holding the policy rate constant. The decision at the December meeting will depend on upcoming economic data.

How does the committee view the relationship between monetary policy and the labor market?

What is the expected path of inflation over the medium term according to the forecast?