Fed's Goolsbee Suggests Potential Rate Cuts with Stable Economic Data

Austan Goolsbee, President of the Federal Reserve Bank of Chicago, has stated that interest rates could significantly decrease if economic data indicates stable inflation and a steady labor market. This potential easing of rates could relieve financial pressure on consumers and businesses, promoting economic growth. Goolsbee noted the current economic challenges, including a cooling job market and rising inflation, which complicate policymaking.