Right move: Goolsbee (left) speaks at a Council on Foreign Relations forum in New York. The Chicago Fed president says policymakers should cut interest rates if US inflation continues to fall back towards its target of 2%. — Reuters
CHICAGO: Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee says policymakers should cut interest rates if US inflation continues to fall back to the 2% target.
The Chicago Fed chief, speaking in Sintra, Portugal, said he feels “we are on a path to 2%” inflation and “if you just hold the rates where they are while inflation comes down, you are tightening – so you should do that by decision, not by default”.
