Federal Reserve's Musalem says there is currently no need for further rate cuts

Federal Reserve's Musalem stated that inflation risks are easing, and it is expected that prices will return to the Fed's target later this year. He pointed out that after last year's rate cuts, monetary policy is now well-positioned to address risks to price stability or employment. The current interest rate is close to a neutral level, neither stimulating nor restraining the economy. He reiterated that there is no need for further rate cuts while inflation remains elevated, and said that the inflation data released that day was encouraging. The current policy stance is appropriate, balancing the expected economic trajectory and various risks.