Fed’s Kugler: Will make decisions meeting by meeting, policy not on a pre-set course

• Oct PCE data consistent as of now with a return to 2% inflation
• Continuation of disinflation, modest job market cooling show Fed goals roughly in balance
• Rate cuts so far were steps in removing policy restraint, Fed in process of moving toward more-neutral level
• Current policy well-positioned to deal with uncertainty
• Will vigilantly monitor for risks, negative supply shocks that may undo progress in reducing inflation
• Higher productivity growth, immigration increase have driven surprising, largely desirable economic outcomes

There isn’t much of a hint here on what she favors for this months’ meeting.

This article was written by Adam Button at www.forexlive.com.