Reported 15 days ago
Austan Goolsbee, President of the Chicago Fed, stressed the need for significant interest rate cuts over the next year to support the US labor market and economy. He indicated that with inflation approaching the 2% target, attention should shift to mitigating employment risks, pointing out that economic conditions require a proactive approach rather than waiting for downturns. Goolsbee supports the recent half-point rate cut and emphasizes that borrowing costs need to decrease significantly to achieve a balanced economic environment.
Source: YAHOO