Federal Reserve Governor Adriana Kugler presented an optimistic case for a continued slowdown in US inflation while indicating there is little urgency to reduce the Fed’s benchmark lending rate soon.

“At some point, the continued cooling of inflation and labor markets may make it appropriate to reduce the target range for the federal funds rate,” Kugler said Wednesday in her first public remarks as a Fed official at the Brookings Institution in Washington. “On the other hand, if progress on disinflation stalls, it may be appropriate to hold the target range steady at its current level for longer to ensure continued progress on our dual mandate.”

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