🔥Chicago Fed President Austan Goolsbee: "Interest rates need to be cut significantly to protect the US labor market"

🔶In an interview 20 hours ago, the Chicago Fed President repeatedly emphasized that interest rates could be cut many times next year to support the struggling economy. He warned that the labor market is weakening rapidly, which increases the pressure on the Fed to act.

🔶Goolsbee is confident that inflation can return to 2%, which allows the Fed to accelerate interest rate cuts without any serious risks.

🔶In January 2024, the Fed was still not unanimous, this continued until June 2024, when some Fed members said that inflation was still very worrying. At present, almost everyone agrees that "the new labor market is the priority right now".