Mr. Coogler, the Fed governor, said the rebalancing of the labour market meant that inflation would fall towards 2 per cent; that if the inflation data failed to boost confidence, it could stay put for a longer period of time; that it would be appropriate for the Fed to cut interest rates earlier if unemployment continued to rise; that it would be appropriate to cut rates later in 2024; that those risks to inflation and employment were now more balanced; that inflation had continued to fall but remained above target; and that non-government data provided another perspective on the broader economy.