Federal Reserve Bank of Chicago President Austan Goolsbee said financial markets may have gotten ahead of policymakers in assuming an aggressive path of rate cuts this year. “They were getting the cart before the horse,” Goolsbee said Friday in an interview on Fox News. “What’s going to drive the decisions about rates is going to be the actual data.” Fed officials updated their economic and rate projections at their December meeting, and while the median of those projections showed there would likely be three cuts this year, Goolsbee argued those are individual forecasts and shouldn’t be taken as a group decision ... (full story)