Federal Reserve Bank of St. Louis president Alberto Musalem said in an interview with the Wall Street Journal (WSJ) that the Federal Reserve's decision last month to reduce interest rates was a close call. He added that greater caution is warranted regarding further rate decreases.
The official noted that the economic outlook now is much different from when the Fed started cutting rates last year and the risk that inflation might get stuck between 2.5% and 3% has increased.