According to BlockBeats, on July 17, Fed Governor Kugler said that rebalancing the job market means inflation will fall to 2%. If the unemployment rate continues to rise, it would be appropriate for the Fed to cut interest rates in advance.
Kugler reiterated his position that "it would be appropriate to cut interest rates later in 2024." He pointed out that the risks to inflation and employment are now more balanced, and inflation has continued to decline but is still above the target.
Kugler also said that data released by non-government sectors provide another perspective on the overall economy, and is cautiously optimistic that U.S. inflation will make progress toward 2%, and the Fed does not want the labor market to cool too much.