Chicago Fed President Goolsbee states progress on reducing inflation has stalled, Fed needs more data before cutting interest rates.
Chicago Fed President Austan Goolsbee said that progress on bringing down inflation has stalled, and the central bank needs "more sniffing" before it can start cutting interest rates. Inflation has dropped significantly from its pandemic-era peak but remains above the Fed's target. Goolsbee indicated that the Federal Reserve's current restrictive monetary policy is appropriate and that it makes sense to wait and get more clarity before moving.
April 19, 2024
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