Federal Reserve's Bullard: Opposed Fed's recent rate cut, should wait for more inflation and employment data

BlockBeats News, December 12: Chicago Fed President Evans said he opposed the Fed's recent 25 basis point rate cut decision, believing that more data on inflation and the labor market should be awaited before further rate cuts, especially amid lingering concerns about price hikes among businesses and consumers.

Evans was one of the three officials who voted 9-3 against the Fed this week, advocating for a delay in rate cuts until early next year. He explained, "Given that inflation has been above target for four and a half years, with recent progress stalling, and almost all businesses and consumers I have talked to in my district in recent months see prices as a major concern, I believe a more cautious approach is to wait for more information." Evans also said that if future data shows inflation returning to the Fed's 2% target, he still "optimistically believes" that rates "can be significantly lowered" next year. (FX678)