U.S. Fed "progressive rate cut appropriate" at November meeting

Members of the Federal Reserve, the U.S. central bank, largely agreed at a recent monetary policy meeting that interest rates need to be slashed carefully in the future.

The Federal Open Market Committee minutes released on the 26th local time said it was appropriate to move toward a gradually neutral policy position if inflation slows and remains close to full employment.

The commissioners highlighted the gradual easing of policy, citing the continued strong U.S. economy and uncertainty at the level of "neutral interest rates" as the backdrop for prudence.

Neutral interest rates refer to the level of real interest rates that can maximize employment without accelerating inflation, which is a theoretical concept and can only be estimated.

Earlier, Fed Chairman Jerome Powell said on the 14th that the U.S. economy is not sending any signals about the Fed's monetary policy direction that it needs to hurry to cut interest rates.