Federal Reserve officials have spoken out in unison, expressing caution against excessive interest rate cuts

According to the Wall Street Journal, on Friday local time, four Federal Reserve officials expressed their concerns about the possibility of cutting interest rates this week and again in December in different forms, which explains why Federal Reserve Chairperson Powell said in a post-decision conference that the December rate cut was not "DingTalk on the board." In Wednesday's meeting, only Kansas City Fed President Schmid voted against the decision to cut interest rates by 25 basis points, which he explained in a statement on Friday stemmed from concerns about the stickiness of inflation. The other two non-voting officials on the day - Cleveland Fed President Hammarck and Dallas Fed President Logan - also hinted that they would oppose the rate cut if they had the right to vote. Hamak expressed his concern that the rate cut was too far from the tight stance to control inflation: "We must maintain some degree of restrictive policy to bring inflation back to target." While Bostic, the president of the Atlanta Fed, who is also non-voting this year, supports the 25 basis point rate cut, he emphasizes that the premise is that the policy stance is still tight. Bostic specifically pointed out that at a time when inflation persists in all areas of the economy, each rate cut makes the case for further easing even more unclear, because interest rates are gradually approaching neutral levels that are difficult to effectively contain price increases.