Federal Reserve officials emphasize the need for more evidence of cooling inflation and remain cautious about the timing of interest rate cuts

Federal Reserve officials emphasize the need for more evidence to show a cooling inflation and remain cautious about the timing of rate cuts. Among them, Fed Governor Quarles stated that if the economic situation develops as expected, a rate cut may be appropriate later this year. Mester believes that several quarters of economic data are needed to support a rate cut. New York Fed President Williams and Richmond Fed President Barkin are unwilling to provide a specific time frame but emphasize the important role of economic data in future policy direction. Currently, the latest dot plot released by the Fed shows that policymakers on average predict only one rate cut this year. Policymakers maintain a cautious stance on the economic situation and are not in a rush to cut rates