Fed must weigh impact of restrictive policy stance, Goolsbee says
© Reuters. A man waits for customers next to his makeshift tent around Times Square, in New York, U.S., December 25, 2023. REUTERS/Eduardo Munoz/File Photo - Chicago Federal Reserve President Austan Goolsbee said on Monday the U.S. central bank must weigh how much longer it can maintain its current interest rate stance without it damaging the economy.
Goolsbee did not comment directly on the Fed's monetary policy outlook. U.S. central bankers are seeking data that would allow them to deliver on their projected three rate cuts in 2024. But the timing of the start of the easing has been challenged by sturdy inflation data since the start of the year.
Goolsbee said the economy has been solid but has been growing slower this year than in 2023. He said there's a disconnect between the data and how the public feels about the economy, and that he's placing more emphasis on the former as part of his decision-making process.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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