Chicago Fed chief warns of overtightening if rates hold
Fed chair Jerome Powell also finds confidence in recent inflation data
The president of the Federal Reserve Bank of Chicago has said that last month’s inflation figures mean he has greater confidence the federal funds rate should be lowered.
Austan Goolsbee told reporters on 15 July that “this is what the path to 2% looks like”, though he did not say whether he would support a rates cut this month or at the next scheduled meeting of the Federal Open Market Committee in September.
“You only want to stay this restrictive for as long as you have to,” he said. “And this
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