Fed's Goolsbee: Don't want to tighten longer than necessary - NPR
-Federal Reserve Bank of Chicago President Austan Goolsbee on Friday said the U.S. economy is not showing signs of overheating, so central bank officials should be wary of keeping restrictive policy in place longer than necessary.
Goolsbee declined to say whether he would press for an interest rate cut at the Fed's coming meeting on Sept. 17-18. But his remarks were consistent with his recent comments that officials need to be increasingly attuned to signs like the rising unemployment rate and increases in credit card delinquencies that suggest the economy is slowing to a point where policy should not be as restrictive as it is now.
Financial markets are now 100% priced for a rate cut next month, with the main debate being over what size - a quarter percentage point or a half point. Odds now favor the smaller cut, but a big signal on the Fed's next move is likely to come next Friday when Fed Chair Jerome Powell delivers a keynote address at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chicago Fed President Goolsbee says if economy deteriorates, Fed will 'fix it'Chicago Federal Reserve President Austan Goolsbee spoke Monday morning on CNBC's 'Squawk Box' program.
Read more »
Fed's Goolsbee: If economy deteriorates, Fed will fix itIn an interview with CNBC on Monday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted that there is a lot going on in the world, which makes things more complicated for them, per Reuters.
Read more »
Fed's Goolsbee: Rising unemployment may indicate worsening job marketFederal Reserve Bank of Chicago President Austan Goolsbee said on Wednesday that he becomes more worried about the labor market than inflation, citing recent progress on price pressures and weak jobs data, per Bloomberg Key quotes It's important that we not assume that if the labor market were to deteriorate past normal, that we could react and...
Read more »
Fed's Goolsbee says central bank will 'fix' the US economy if it deterioratesChicago Federal Reserve President Austan Goolsbee said on Monday that central bank policymakers will 'fix' the U.S. economy if it starts to deteriorate.
Read more »
Fed's Goolsbee says central bank will react to signs of weakness in economy-CNBCFed's Goolsbee says central bank will react to signs of weakness in economy-CNBC
Read more »
Chicago Fed President Austan Goolsbee to speak on CNBCChicago Fed President Austan Goolsbee to speak on CNBC
Read more »