Fed's Goolsbee says central bank will react to signs of weakness in economy-CNBC
Chicago Federal Reserve President Austan Goolsbee stated on Monday that the central bank is prepared to respond to signs of economic weakness, hinting that current interest rates may be too prohibitive.
"We’re forward-looking about it. So if the conditions collectively start coming in like that on the through line, there’s deterioration on any of those parts, we’re going to fix it."The sell-off continued a downward trend that started on Thursday, following the Fed's decision not to lower interest rates, sparking concerns that policymakers might be falling behind as inflation declines and the economy weakens.
"Should we reduce restrictiveness? I’m not going to bind our hands of what should happen going forward, because we’re still going to get more information. But if we are not overheating, we should not be tightening or restrictive in real terms," he said.
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