Bloomberg

Fed’s Goolsbee Sees ‘Many More’ Rate Cuts Over the Next Year

S.Martin21 min ago

Fed's Goolsbee Sees 'Many More' Rate Cuts Over the Next Year Chicago Fed chief warns labor market could deteriorate quickly Rates need to fall 'significantly' to keep US economy steady Federal Reserve Bank of Chicago President Austan Goolsbee said interest rates need to be lowered "significantly" to protect the US labor market and support the US economy.

"As we've gained confidence that we are on the path back to 2%, it's appropriate to increase our focus on the other side of the Fed's mandate — to think about risks to employment," Goolsbee outlined in talking points for a moderated Q&A event in Chicago Monday. "That likely means many more rate cuts over the next year."

Read the full article:https://www.bloomberg.com/news/articles/2024-09-23/fed-s-goolsbee-sees-many-more-rate-cuts-over-the-next-year

0 Comments