Chicago Fed President: Slowing Inflation Supports Rate Cuts, Future Policy Still Uncertain
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Chicago Federal Reserve Bank President Goolsbee stated that as inflation slows, the Federal Reserve's interest rate cut policy is appropriate. He pointed out that the U.S. economy is steadily moving towards the 2% inflation target, and interest rates may be lowered in the next 12 to 18 months. Although economic data has been slightly better than expected, uncertainty regarding policy remains, especially as fiscal policy may impact the economy and prices. The market generally expects the Federal Reserve to initiate a rate cut cycle in 2024, but the specific timing will depend on future economic data
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