Central Banks
Fed’s Goolsbee Says He’s Growing More Concerned About Employment
- Worried more about Fed’s employment mandate ‘on the margin’
- Chicago Fed president spoke to Bloomberg News in an interview
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Federal Reserve Bank of Chicago President Austan Goolsbee said he is growing more concerned about the labor market than inflation amid recent progress on price pressures and disappointing jobs data.
Goolsbee said current interest rates are “very restrictive” in an interview with Bloomberg News Wednesday, a stance he said would only be appropriate if the economy were overheating. He declined to comment on how likely or how large a rate cut might be at the Fed’s next meeting in September.