Federal Reserve's Goolsbee: Interest rates will continue to decline

ChainCatcher news, Federal Reserve's Goolsbee stated that he expects the Fed to continue cutting interest rates to achieve a goal that neither restricts nor promotes economic activity.

Goolsbee said, "Unless there is compelling evidence that the economy is overheating, I see no reason not to continue lowering the federal funds rate." "The pace of rate cuts depends on the outlook and conditions. But in my view, we are on a clear path that will lead to lower rates, closer to the neutral rate." He mentioned that his prediction for the neutral rate is close to the officials' median estimate, which is 2.9% as projected in September. Goolsbee noted that the overall situation in recent months has been that inflation has often been below expectations, but not significantly above the 2% target.