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Chicago Fed President Austan Goolsbee said he remains uneasy about the idea of front-loading rate cuts, citing persistent inflation pressures and an uncertain growth backdrop. Speaking with Yahoo Finance, Goolsbee admitted he is “not decided” going into the December meeting, emphasizing that inflation remains “above target for four and a half years and trending the wrong way.” .
Goolsbee added that the threshold for cutting rates is now higher than at prior meetings. While he acknowledged that interest rates should ultimately fall alongside inflation, he expects them to settle “a fair bit below current levels” only once inflation shows sustained progress toward 2%. His stance aligns with other centrist officials who are reluctant to accelerate rate cuts amid mixed economic signals.
On the labor market, Goolsbee described an unusual environment of “low hiring” and “low firing,” calling the hiring rate one of the economy’s weakest points. Despite slower job creation, he noted that broader employment indicators remain stable.
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