Chicago Fed President Goolsbee indicates possible emergency rate cuts if the US economy weakens.

Chicago Fed President Austan Goolsbee has assured that the US central bank will respond to any signs of economic weakness, and may take emergency rate cuts if the economy experiences a sharp downturn. Goolsbee stated that the Fed's role is to maximize employment, stabilize prices, and maintain financial stability, and it will act accordingly. While not committing to a specific course of action, Goolsbee hinted that current interest rates may be too high and the central bank should not maintain a restrictive policy if the economy weakens.

August 05, 2024
11 Articles

Further Reading