This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeafter last week's supersized rate cut."I think after 50 basis points, we're still in a net tight position," Kashkari told CNBC.
Atlanta Fed President Raphael Bostic was more circumspect."Progress on inflation and the cooling of the labor market have emerged much more quickly than I imagined at the beginning of the summer," he said at a separate event. That Bostic was possibly surprised by the increase in the unemployment rate is an indication some Fed officials are indeed worried the jobs market isn't as strong as it should be.
Last, in remarks to the National Association of State Treasurers, Chicago Fed President Austan Goolsbee said that"it's appropriate to increase our focus on the other side of the Fed's mandate — to think about risks to employment, too, not just inflation." Goolsbee sees"many more rate cuts over the next year" because the state of employment is a"through line on economic conditions." That suggests economic conditions need the support of many more rate cuts.The narrative the central bank has been on top of its game to ensure a soft landing, then, is very much intact.