St. Louis Federal Reserve Bank President William Poole said on Friday he would keep an open mind on policy decisions going forward but that markets should not factor in more interest rate cuts.
"It would be a mistake to bake in the cake more rate cuts," Poole said after addressing a conference hosted by Market News International. "We will go meeting by meeting."
Poole is a voting member of the policy-setting Federal Open Market Committee. The Fed cut overnight interest rates by a bigger-than-expected 50 basis points last week as recent financial market turmoil increased risks to the economy.