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Fed’s Goolsbee Wants to See More Inflation-Easing Data Before September Rate Decision
Federal Reserve Bank of Chicago President Austan Goolsbee said that while recent data give him hope that inflation can cool without too much pain in the economy, he’d like to see more of a trend develop before the central bank stops raising interest rates. “We have seen progress for a short period before, like last summer, and that proved to be false improvements,” Goolsbee said Tuesday in an interview, adding that it was too soon to say what the Fed should at its next policy meeting in September. Officials have slowed the pace of rate increases, following aggressive action to tame an annual inflation rate that ... (full story)