Fed’s Goolsbee Sees Rates a ‘Fair Bit Lower’ Over Next Year (1)

Federal Reserve Bank of Chicago President Austan Goolsbee said he sees interest rates moving “a fair bit lower,” while expressing confidence inflation is easing toward the central bank’s objective alongside a solid labor market.

“My view is that the long arc over the last year and a half shows inflation is way down and on its way to 2%. Labor markets have cooled to something close to stable full employment,” Goolsbee outlined in talking points for a moderated Q&A event in Indianapolis on Thursday.

Austan Goolsbee

Photographer: Natalie Behring/Bloomberg

“Things are getting close to where we want to settle on both counts,” he said. ...