美联储穆萨勒姆：若就业市场风险加剧，政策利率或需调整

Core Viewpoint - The Federal Reserve's focus should be on the overall interest rate path rather than just individual meeting decisions, as inflation remains above target levels with ongoing risks [1] Summary by Relevant Sections - Inflation and Interest Rates - Inflation is currently above the target level, indicating persistent risks [1] - The interest rate path may include a pause in rate cuts if employment market risks escalate [1] - Employment Market - The next employment report could either justify a rate cut or not, depending on its specifics [1] - Risks in the employment market are rising but have not yet manifested [1] - Tariffs and Inflation Effects - The inflation effects from tariffs are expected to gradually dissipate [1] - Policy Adjustments - The Federal Reserve is moderately tightening policy and will continue to adjust the interest rate outlook until the September meeting [1]