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In this week's speech, Chicago Fed President Austin Gusby and Fed Governor Michelle Bauman expressed vastly different views on the theoretical level of neutral interest rates. Neutral interest rate refers to the interest rate level that enables the Federal Reserve to achieve a balanced range of economic objectives. Gusby emphasized that the Federal Reserve still needs to further cut interest rates to reach this level - he called the rate "far below the level we are currently at". Bauman, on the other hand, said, 'We may be closer to a neutral policy stance than we currently believe.'. FHN Financial's Will Conneller pointed out that it is not surprising to see such divergence, given that in the September forecast, Fed officials anonymously estimated the neutral interest rate range to be between 2.375% and 3.75%. @yigityektin