[Federal Reserve's Musallem: The Fed should "gradually" cut interest rates] Golden Finance reported that St. Louis Fed President Musallem said that after cutting interest rates by 50 basis points earlier this month, which was larger than usual, the Fed should resume the practice of "gradual" interest rate cuts. Musallem said that the U.S. economy may respond "very positively" to a looser financial environment, thereby stimulating demand and extending the time it takes for the Fed to reduce inflation to 2%. "For me, this is about easing the brakes at this stage. This is about gradually reducing policy restrictions," Musallem said. According to the forecast released at this month's meeting, he is one of the officials who expects to cut interest rates by more than 25 basis points for the rest of the year.