Fed’s Paulson Says She’s Cautious on December Rate Decision

Federal Reserve Bank of Philadelphia President Anna Paulson said she’s approaching next month’s rate-setting meeting with caution, though she remains more concerned about weaknesses in the job market.

“Each rate cut brings us closer to the level where policy flips from restraining activity a bit to the place where it is providing a boost. So, I am approaching the December FOMC cautiously,” Paulson said Thursday, referring to next month’s gathering of the Federal Open Market Committee. “Each rate cut raises the bar for the next cut.”