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The Fed May Need to Turn Focus to Labor Market, Says Chicago Fed's Goolsbee
In an interview with Bloomberg Television, Goolsbee stopped short of forecasting an interest rate cut when the Federal Reserve concludes its next meeting on Sept. 18, arguing that officials shouldn’t react to single pieces of economic data. However, he said that the “real fed funds rate,” which factors inflation into current interest rate levels, was as high as it's been in “decades,” and could create further economic tightening that could make job losses worse. “If we stay restrictive for too long, we're going to have to think about the employment side of the mandate,” said Goolsbee, referring to the ... (full story)
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- Posted: Aug 3, 2024 1:00pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,601
