Fed member Musalem:

•I supported the 25 basis point cut as a measure to help the labour market, but I believe there is limited scope for further easing.

•Tariffs are adding to inflation and their impact on prices has not yet been fully felt.

•Loose financial conditions and other factors mean the Fed should be cautious about further rate cuts.

•Overemphasising the labour market could lead to overly loose policies and cause more harm than good.

•Risks in the labour market are tilted to the downside.

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