Federal Reserve Bank of St. Louis President Alberto Musalem joins Bloomberg Open Interest to discuss the state of the US economy and labor market as the central bank contends with missing data amid the government shutdown. Musalem also discusses the rate path forward, saying it’s "very important" for the Fed to move forward "with caution," adding there is "limited room" to cut rates further. Musalem also acknowledged concern over asset valuations and pointed to the Fed’s recent semi-annual report on financial stability. “It’s not our job to opine on particular valuations of markets, but if you look at that report, house prices seem elevated relative to historical standards, stock prices seem elevated, and to me it’s just the flip side of accommodative financial conditions,” Musalem said. He speaks with Bloomberg TV International Economics & Policy Correspondent Michael McKee on Bloomberg’s Open Interest.
00:00 Fed’s Musalem
00:30 Data is the "gold standard"
01:35 Musalem on economy
03:45 waiting on clarity
05:00 The labor market has cooled
06:30 Musalem on monetary policy
08:45 Risks of cutting rates
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