Musalem Discusses U.S. Inflation, the Labor Market and Monetary Policy in Fireside Chat

July 11, 2024

St. Louis Fed President Alberto Musalem shared his views on various aspects of the U.S. economy and monetary policy during a fireside chat at the Little Rock Regional Chamber’s Power Up Little Rock event. For instance, he discussed the Federal Open Market Committee’s decision in June to maintain the target range for the federal funds rate, the Fed’s progress on reducing inflation to its 2% target, and the state of the U.S. labor market. Musalem also addressed questions about what he’s hearing from businesses in the Eighth Federal Reserve District, his outlook for the economy and interest rates, the potential impact of generative AI on productivity, and the importance of central bank independence.

This event was during Musalem’s July 10-12 visit to Little Rock, Ark. While there, he met with business and community leaders to learn about local economic conditions and key industries. His visit also included a tour of Westrock Coffee Co.’s roast to ready-to-drink manufacturing facility in Conway, Ark., which is the largest such factory in North America, and Dassault Falcon Jet in Little Rock.

Below are some photos from Musalem’s Little Rock visit.

Musalem speaks with a man in business attire.

On July 10, 2024, St. Louis Fed President Alberto Musalem (right) met with Scott Ford, co-founder and CEO of Westrock Group LLC, before touring a Westrock Coffee Co. manufacturing facility in Conway, Ark.

Musalem walks down a large hallway with two men and others in the background. All wear protective smocks, hair covers and helmets.

St. Louis Fed President Alberto Musalem (center) toured a Westrock Coffee Co. manufacturing facility in Conway, Ark., on July 10, 2024. Scott Ford (left) is co-founder and CEO of Westrock Group LLC, and Will Ford (right) is group president of operations at Westrock Coffee.

Musalem speaks into a microphone while seated on a stage. Also shown are a second man on the stage and audience members.

St. Louis Fed President Alberto Musalem (right) addressed questions during a Little Rock Regional Chamber event on July 11, 2024, with chamber President and CEO Jay Chesshir moderating the conversation.