EURUSD drops 0.1% on hawkish statement from Fed St. Louis President 📉

Alberto Musalem, President and CEO of the Federal Reserve Bank of St. Louis, expressed moderate confidence in U.S. full employment while highlighting persistent inflation risks. He views policy as remaining between moderately restrictive and neutral, appropriate for the current economic outlook and ongoing uncertainty.

Musalem voted for a 25-basis-point cut to adjust policy in response to downside labor market risks, including lower job-finding expectations and weaker hiring, but sees limited room for further easing. He expects the labor market to remain at full employment in the foreseeable future. On inflation, he noted that tariff-related pressures have not yet fully materialized, while financial conditions—such as low credit spreads—keep supporting economic activity.

EURUSD stalled its recovery above 1.177 ahead of Musalem’s speech and is now testing a return below this key level. Despite this, the major currency pair is still up 0.2% on the day.

Source: xStation5

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