Fed's Musalem says markets cannot be main driver of monetary policy choices

Federal Reserve Bank of St. Louis President Alberto Musalem said on Thursday the central bank needs to make its own judgments on monetary policy and cannot let market pricing dictate action.

“If you think that now is the time to change policy in whatever direction, you ought to change that policy, irrespective of what's priced into markets,” Musalem said in an appearance in Brazil. “There are times or moments when it's okay to surprise the market,” he added.